The equity sections for Quality First Group at the beginning of the year (January 1) and end of the year (December 31) follow.

Stockholders Equity (January 1)
Common stock$12 par value, 140,000 shares authorized, 60,000 shares issued and outstanding	$ 720,000
Paid-in capital in excess of par value, common stock	108,000
Retained earnings	590,000
Total stockholders equity	$ 1,418,000

Stockholders Equity (December 31)
Common stock$12 par value, 140,000 shares authorized, 68,800 shares issued, 5,000 shares in treasury	$ 825,600
Paid-in capital in excess of par value, common stock	231,200
Retained earnings ($120,000 restricted by treasury stock)	1,060,000
	2,116,800
Less cost of treasury stock	(120,000)
Total stockholders equity	$ 1,996,800

The following transactions and events affected its equity during the year.

January 5	Declared a $1.00 per share cash dividend, payable on January 10.
March 20	Purchased treasury stock for cash.
April 5	Declared a $1.00 per share cash dividend, payable on April 10.
July 5	Declared a $1.00 per share cash dividend, payable on July 10.
July 31	Declared a 16% stock dividend when the stocks market value was $26 per share.
August 14	Issued the stock dividend that was declared on July 31.
October 5	Declared a $1.00 per share cash dividend, date of record October 10.

The equity sections for Quality First Group at the beginning of the year (January 1) and end of the year (December 31 ) follow. The following transactions and events affected its equity during the year. January 5 Declared a $1.0 per share cash dividend, payable on January 10. March 20 Purchased treasury stock for cash. July 5 Declared a $1.69 per share cash dividend, payable on July 10 . August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $1.00 per share cash dividend, date of record october 10. The following transactions and events affected its equity during the year. Prepare the journal entry necessary to record each event, and then agree the year-end balances with the December 31 Stockholders' Equity statement given above. Requirement Gene Joum The following transaction event, and then agre View transaction list Journal entry worksheet 234567812 Declared a $1.00 per share cash dividend, payable on January 10. Note: Enter debits before credits. \begin{tabular}{|c|c|c|c|} \hline Date & Account Title & Debit & Credit \\ \hline January 05 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & \end{tabular} Paid-in capital, Common \begin{tabular}{|c|c|c|c|r|} \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 108,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 720,000 \\ \hline \multicolumn{6}{|c|}{ Retained earnings } \\ \hline \multicolumn{1}{|c|}{ Do. } & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 590,000 \\ \hline \end{tabular} \begin{tabular}{|l|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Income summary } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & (932,600) \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline Requirement & General Joumal & General Ledger \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multirow{2}{*}{ Trial Balance } & Cash Dividends & Stock Dividend \\ \cline { 2 - 3 } & & \end{tabular} Trial Balance January 01, 2021 Calculate the dollar amount of each cash dividend. alculate the amount of retained earnings to be capitalized as a result of the stock dividend