Shown below in T$-$account format are the changes affecting the retained earnings of Brenner$-$Jude Corporation during $2024.$ On January $1,2024,$ the corporation had outstanding $105$ million common shares, $$1$ par per share.

$\backslash$table$[[$Retirement of $5$mil Rebit Retained,Earnings,$($$ in millions$),$Credit$],[\backslash$table$[[$Retirement of $5$ million common shares for$],[$$$36$ million$],[$Declaration and payment of a $$0\mathrm{.}39$ per$],[$share cash dividend$],[$Declaration and distribution of a$],[48$ stock dividend$]],\backslash$table$[[5],[39],[21]],\backslash$table$[[107],[96]],\backslash$table$[[$Beginning balance$],[$Net income for the year$]]]]$

Required:

From the information provided by the account changes, you should be able to recreate the transactions that affected BrennerJude's retained earnings during $2024.$ Prepare the journal entries that Brenner$-$Jude must have recorded during the year for these transactions. $($Hint: In lieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss.$)$

Prepare a statement of retained earnings for Brenner$-$Jude for the year ended $2024.$

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