Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. 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 109 million common shares, $1 par per share. 2.5 Retained Earnings ($ in millions) points 94 Beginning balance Retirement of 9 million common 2 shares for $23 million 01:19:45 83 Net income for the year Declaration and payment of a $0.37 per share cash dividend 37 Declaration and distribution of a 28 6% stock dividend 110 Ending balance Required: 1. From the information provided by the account changes, you should be able to recreate the transactions that affected Brenner-Jude's retained earnings during 2021. Prepare the journal entries that Brenner-Jude must have recorded during the year for these transactions. (Hint: In lieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss.) 2. Prepare a statement of retained earnings for Brenner-Jude for the year ended 2021. x Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 22. Prepare a statement of retained earnings for Brenner-Jude for the year ended 2021. 01:19:15 x Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 From the information provided by the account changes, you should be able to recreate the transactions that affected Brenner- Jude's retained earnings during 2021. Prepare the journal entries that Brenner-Jude must have recorded during the year for these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Show less A No Event General Journal Debit Credit 1 Common stock 9 0 Paid-in capital - excess of par 12 Retained earnings 2V Cash V 23 2 2 Income summary 83 Retained earnings 83 3 3 Retained earnings 37 Cash 37 4 4 Retained earnings 28 Common stock 6 Paid-in capital - excess of par 22