GL1101 (Algo) - Based on Problem 11-2A LO C3, P2, P3 Austin Company reports the following components of stockholders' equity on January 1 . During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,600 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 2,600 of its treasury shares at $27 cash per share. August 22 Sold 2,000 of its treasury shares at $19 cash per share. September 5 Directors declared a $2 per share cash dividend payable on october 28 to the September 25 stockholders of record. October 28 Paid the dividend declared on September 5. December 31 closed the $497,000 credit balance (from net incone) in the Incone Sumary account to Retained Earnings. Journal entry worksheet 235678 Purchased 4,000 shares of its own stock at $23 cash per share. Note: Enter debits before credits. Journal entry worksheet 8 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. Note: Enter debits before credits. Journal entry worksheet