20 Return to question 5 points Shown below in T-account format are the changes affecting the retained earnings of Brenner Jude Corporation during 2021. At January 1, 2021, the corporation had outstanding 100.00 million common shares, $10 par per share. Retained Earnings (5 in millions) 102 Beginning balance Retirement of 5.0 million common 3.60 shares for $34.0 million 80 Net income for the year Declaration and payment of a se.36 34.20 per share cash dividend Declaration and distribution of a 2 26.90 stock dividend 117.30 Ending balance Required: 1. Prepare the journal entries to record the transactions that affected Brenner-Jude's retained earnings during 2021 based on the information provided. 2. Prepare a statement of retained earnings for Brenner Jude for the year ended 2021. Return to question Shown below in T-account format are the changes affecting the retained earnings of Brenner Jude Corporation during 2021. At January 1, 2021, the corporation had outstanding 100.00 million common shares, $1.0 par per share. Retained Earnings ($ in millions) 102 Beginning balance Retirement of 5.0 million common 3.60 shares for $34.6 million Net income for the year Declaration and payment of a $0.36 34.20 per share cash dividend Declaration and distribution of a 2% 26.90 stock dividend 117.30 Ending balance 80 Required: 1. Prepare the journal entries to record the transactions that affected Brenner-Jude's retained earnings during 2021 based on the information provided. 2. Prepare a statement of retained earnings for Brenner-Jude for the year ended 2021. Answer is not complete. Inn your answers in the tabs below. far. It does not indicate comp 20 Complete this question by entering your answers in the tabs below. Return Required 1 Required 2 5 points Prepare the journal entries to record the transactions that affected Brenner-Jude's retained earnings during 2021 based on the information provided. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to 2 decimal places (.e., 5,500,000 should be entered as 5.50).) No Event General Journal Debit Credit Common stock 5.00 Paid-in capital - excess of par Retained earnings Cash 1 1 2 2 Net income Retained earnings 3 3 Retained earings Cash 9 aw LOW Cywny UE OU UC information provided. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 2 decimal places (1.e., 5,500,000 should be entered as 5.50).) No Event General Journal Debit Credit 1 Common stock Paid-in capital - excess of par Retained earnings Cash 1 Ts 5.00 OOOO 2 2 Net income Retained earnings 3 3 Retained earnings Cash 4 4 Retained earnings Common stock Paid-in capital - excess of par Required 1 Required 2 Prepare a statement of retained earnings for Brenner-Jude for the year ended 2021. (Enter your an to 2 decimal places (i.e., 5,500,000 should be entered as 5.50).) BRENNER-JUDE CORPORATION Statement of Retained Earnings For the Year Ended December 31, 2021 ($ in millions) Balance at January 1 Net income for the year Deductions: Retirement of common stock Cash dividends Stock dividend IS 0.00 Balance at December 31 Rewired 1 Required 2