Check my work 5 Shown below in T-account format are the changes affecting the retained earnings of Forge Corporation during 2018. At January 1 2018, the corporation had outstanding 106 million common shares, $1 par per share. 10 points Beginning balance Retirenent of 6 million conmon shares for $37 million Skipped 97 Net income for the year Declaration and paynent of a 40 0-40 per share cash dividend Declaration and distribation of a 23 Ending balance References Required 1. From the information provided by the account changes you should be able to recreate the transactions that affected Forge's retained earnings during 2018. Prepare the journal entries that Forge must have recorded during the year for these transactions 2. Prepare a statement of retained eamings for Forge for the year ended 2018 Complete this question by entering your answers in the tabs below. Required 1 Required 2