Required information Problem 11-2A Cash dividends, treasury stock, and statement of retained earnings L.O. C3, P2, P3 (The following information applies to the questions displayed below.) Context Corporation reports the following components of stockholders' equity on December 31, 2011. Common stock-$15 par value, 100,000 shares authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 825,000 70,000 400,000 Total stockholders' equity $1,295,000 In year 2012, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,000 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $6 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. Feb.28 Paid the dividend declared on January 5. July 6 Sold 1,875 of its treasury shares at $24 cash per share. Aug.22 Sold 3,125 of its treasury shares at $17 cash per share. Sept. 5 Directors declared a $6 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 $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Problem 11-2A Part 1 Required: 1. Prepare journal entries to record each of these transactions for 2012. (Omit the "$" sign in your response.) Debit Credit Date Jan. 1 General Journal (Click to select) (Click to select) Jan. 5 (Click to select) (Click to select) Feb. 28 (Click to select) Click to select) July 6 (Click to select) (Click to select) (Click to select) Aug. 22 (Click to select) (Click to select) (Click to select) (Click to select) Sept. 5 0m000 I III (Click to select) (Click to select) SE SE SE SSL Oct. 28 (Click to select) Click to select) Dec. 31 (Click to select) (Click to select) Problem 11-2A Part 2 2. Prepare a statement of retained earnings for the year ended December 31, 2012. (Amounts to be deducted should be indicated by a minus sign. Omit the "$" sign in your response.) CONTEXT CORPORATION Statement of Retained Earnings For Year Ended December 31, 2012 Retained earnings, Dec. 31, 2011 (Click to select) $ (Click to select) (Click to select) mo Retained earnings, Dec. 31, 2012 $ Problem 11-2A Part 3 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2012. (Omit the "$" sign in your response.) CONTEXT CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2012 (Click to select) $ (Click to select) Total contributed capital (Click to select) uno Total stockholders' equity