Shown below in T-account format are the changes affecting the retained earnings of Brenner-Jude Corporation during 2016. At January 1, 2016, the corporation had outstanding 105 million common shares, $1 par per share.

Retained Earnings ($ in millions)

			107	Beginning balance
Retirement of 5 million common shares for $36 million	5
			96	Net income for the year
Declaration and payment of a $0.39 per share cash dividend	39
Declaration and distribution of a 4% stock dividend	21
			138	Ending balance

Required:

1.

From the information provided by the account changes you should be able to recreate the transactions that affected Brenner-Judes retained earnings during 2016. Prepare the journal entries that Brenner-Jude must have recorded during the year for these transactions. (If no entry is required for a particular event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)