Shown below in T-account format are the changes affecting the retained earnings of Forge Corporation during 2018. At January 1, 2018, the corporation had outstanding 107 milion common shares, $1 par per share. Retained Barnings ($ in mi11ions) 92 Beginning balance Retirenent of 7 million common shares for $21 million 81 Net income for the year Declaration and payment of a 35 $0.35 per share cash dividend Declaration and distribution of a 24 4 stock dividend 110 Ending balance Required: 1. From the information provided by the account changes you should be able to recreate the transactions that affected Forge's retained earnings during 2018. Prepare the journal entries that Forge must have recorded during the year for these transactions 2. Prepare a statement of retained earnings for Forge for the year ended 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 From the information provided by the account changes you should be able to recreate the transactions that affected Forge's retained earnings during 2018. Prepare the journal entries that Forge must have recorded during the year for these transactions. (f no entry is required for a transaction/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).) Show lesSA View