GL1102 - Based on Problem 11-4A LO C3, P2, P3 The equity sections for Stream Launch Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1) Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding $ 500,000 Paid-in capital in excess of par value, common stock 75,000 Retained earnings 410,000 Total stockholders' equity $ 985,000 Stockholders' Equity (December 31) Common stock-$10 par value, 130,000 shares authorized, 56,370 shares issued, 4,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($90,000 restricted by treasury stock) $ 563,700 151,440 740,000 1,455,140 (90,000) $1,365, 140 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.80 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.80 per share cash dividend, payable on April 10. July 5 Declared a $0.80 per share cash dividend, payable on July 10. July 31 Declared a 14% stock dividend when the stock's market value was $22 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.80 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend The following transactions and events affected its equity during the year. Prepare the journal entry necessary to record each event, and then agree the year-end balances with the December 31 Stockholders' Equity statement given above