GL1301-Based on Problem 13-2A LO C3, P2, P3 Stream Launch Company reports the following components of stockholders' equity on December 31, 2016: Common stock-$10 par value, 130, 000 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 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. Jan. 1 Purchased 5,000 shares of its own stock at $23 cash per share. 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 $164,500 credit balance (fron net income) in the Income Summary account to Retained Earninga tockholdersImpact on Requirement Journal Trial Balance Statement of S Ledger Equity RE Equity