Need a breakdown on how C. & D is calculated I am stuck.

Recording Seck Dividends and Treasury Stock Transactions At the beginning of 2021, Thompson Service, Inc., showed the following amounts in the stockholders' equity section of its balance shoet. The transactions relating to stocktolders' equity during the year are as follows. Jan. 2 Declared a dividend of 51 per share to stockholders of record on January 31, payable on February 15 : Feb. 16. Pald the cash dividend declared on January 3 . Apr. 12. The corporation purchased 6,000 shares of its cwn capital stock at a price of 540 per share. May o Meissued 4,000 shares of the treasury stock at a price of 544 per share. June 1 Declared a 5 percent stock dividend to stockholders of recerd at June 15 , to be distributed on June 30 . The market price of the stock at June 1 was 542 per share. (The 2. o00 shares remaining in the treasury do not participate in the stock dividend.? June a0 Distributed the stock dividend declared on June 1 . Asi. A Reiswed 600 of the 2,000 famaining shares of treasury stock at a price of 137 per share: Dee. The incorme Summary account, showing net inconte for the year of 51,928,000, was closed into the Retrined Earnings account. 31 Dec. The $382,000 balanot in the Dividends acceunt was closed inte the Alained Earnings acceunt. 31 Instructions a. Prepare in general joumal foem the entries to record these transactions. b. Prepare the stockholders' equity section of the boiance sheet at December 31, 202t. Use the format illustrated in Eahibit 12 -6. Include a supporting achedule ahowing your conmutation of retained sarnings at that date. c. Compate the maximum cash dividend per share that legally could be declared at December a1, 2021, witheut inspairing the pait-in capizal of Thampsan Service. Ghini. The ayailability of retained earnings for dividends is restricted by the cost of treasury steck ewned.)