GL1101 - Based on Problem 11-2A LO C3, P2, P3 Streamline Company reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 120, eee shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 75,000 410,000 $ 985,000 During the year, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 5,000 shares of its own stock at $23 cash per share. Jan. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. Feb. 28 Paid the dividend declared on January 5. July 6 Sold 1,900 of its treasury shares at $27 cash per share. Aug. 22 Sold 3,100 of its treasury shares at $20 cash per share. Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct. 28 Paid the dividend declared on September 5. Dec. 31 Closed the $206,500 credit balance (from net income) in the Income Summary account to Retained Earnings. Requirement General Journal General Ledger Trial Balance Statement of Stockholders RE Equity Impact on Equity General Journal tab - Prepare the necessary journal entries. Statement of Retained Earnings tab - Prepare the Statement of Retained Earnings for the Streamline Corporation for the year ended December 31. Stockholders' Equity tab - Prepare the Stockholders' equity section of Streamline Corporation's December 31 balance sheet. Impact on Equity tab - For each transaction, indicate the total change in Stockholders' Equity, if any. Verify that total equity, as calculated, agrees with the amount reported on the Stockholders' Equity tab. Requirement General Journal General Ledger Trial Balance Statement of RE Stockholders Equity Impact on Equity Prepare the Statement of Retained Earnings for Streamline Corporation for the year ended December 31. STREAMLINE CORPORATION Statement of Retained Earnings For Year Ended December 31