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, $1 par per share. Retained Earnings ($ in millions) Debit Retirement of 5 million common shares for $22 million Declaration and payment of a $0.33 per share cash dividend Declaration and distribution of a 4% stock dividend 2 Required 1 Required 2 33 20 90 88 123 Complete this question by entering your answers in the tabs below. Credit Beginning balance Net income for the year Required: 1. From the information provided by the account changes, you should be able to recreate the transactions that affected Brenner- Jude'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.) 2. Prepare a statement of retained earnings for Brenner-Jude for the year ended 2024. Ending balance From the information provided by the account changes, you should be able to recreate the transactions that affected Brenner-Jude'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.) Note: If 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).

Please help

Shown below in T-account format are the changes affecting the retained eamings of Brenner-Jude Corporation during 2024. On January 1.2024, the corporation had outstanding 105 million common shares, $1 par per share. Required: 1. 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 joumal entries that Brenner-Jude must have recorded during the year for thes transactions. (Hint: In fieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss.) 2. Prepare a statement of retained earnings for Brenner-Jude for the year ended 2024. Complete this question by entering your answers in the tabs below. From the information provided by the account changes, you should be able to recreate the transactions that affected Brenner-Jude'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.) (Hint: In lieu of revenues and expenses, use an account tited "Income summary to ciose net income or net loss.) Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Enter your answers in millions (i.e, 10,000,000 should be entered as 10 ). Prepare a statement of retained earnings for Brenner-Jude for the year ended 2024. Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10)