Shown below in T-account format are the changes affecting the retained earnings of Brenner-Jude Corporation during 2021. At January 1, 2021, the corporation had outstanding 105.00 million common shares, $1.5 par per share. Retained Earnings ($ in millions) 106 Beginning balance 3.80 Retirement of 5.0 million common shares for $36.0 million 82 Net income for the year 38.00 Declaration and payment of a $0.38 per share cash dividend Declaration and distribution of a 5% stock dividend 34.50 |111.70 Ending balance Required: 1. Prepare the journal entries to record the transactions that affected Brenner-Jude's retained earnings during 2021 based on the information provided. 2. Prepare a statement of retained earnings for Brenner-Jude for the year ended 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries to record the transactions that affected Brenner-Jude's retained earnings during 2021 based on the information provided. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50).) Journal entry worksheet 3 4 Record retirement of common shares. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record closing entry of net income to retained earnings Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record declaration and payment of a $0.38 per share cash dividend. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet