Question: 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

 Shown below in T-account format are the changes affecting the retained

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 109 million common shares, $1 par per share 3 points Retained Earnings ( in millions) 94 Beginning balance 02-03:54 Retirement of 9 million common Skipped shares for $23 million Net income for the year Declaration and payment of a 37 $0.37 per share cash dividend Declaration and distribution of a eBook 6% stock dividend 110 Ending balance Print Required: 1. From the information provided by the account changes you should be able to recreate the References transactions that affected Forge's retained earnings during 2013. 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 a nswers in the tabs below

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