At December $31,2021,$ Northeast Corporation reported the stockholders' equity accounts shown here $($with dollar amounts in millions, except per$-$share amounts$).$

$($Click the icon to view the data.$)$

Northeast's $2022$ transactions included

$($Click the icon to view the transactions.$)$

Requirements

Journalize Northeast's transactions in parts b$,$ c$,$ d$,$ and e$.$ Explanations are not required.

What was the overall effect of these transactions $($parts a$-$e$)$ on Northeast's stockholders' equity?

Journalize the declaration of the dividend only. You will prepare the journal entry for the payment of the dividend next.

$\backslash$table$[[$Journal Entry$],[$Date$,$Accounts,Debit,Credit$],[$e $1.,$Retained Earnings,$34,],[,$Dividends Payable,,$34]]$

e $2.$ Declaration and payment of cash dividends of $$34$ million.

Now journalize the payment of the cash dividends.

$\backslash$table$[[$Journal Entry$],[$Date$,$Accounts,Debit,Credit$],[$e $2.,$Dividends Payable,$34,],[,$Cash,,$34]]$

Data table

Common stock, $$3\mathrm{.}00$ par value per share, $20$ million shares issued

Paid$-$in capital in excess of par value

Retained earnings

Treasury stock, at cost

Total stockholders' equity

$q,$

At December $31,2021,$ Northeast Corporation reported the stockholders' equity accounts shown here $($with dollar amounts in millions, except per$-$share amounts$).$

$($Click the icon to view the data.$)$

Northeast's $2022$ transactions included

$($Click the icon to view the transactions.$)$

Requirements

Journalize Northeast's transactions in parts b$,$ c$,$ d$,$ and e$.$ Explanations are not required.

What was the overall effect of these transactions $($parts a$-$e$)$ on Northeast's stockholders' equity?

Journal Entry

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[$e $1,$Retained Earnings,$3,],[,$Dividends Payable,,$34,$