The equity sections from Dade Group's 2016 and 2017 year-end balance sheets follow. Stockholders' Equity (December 31, 2016) Common stock-$12 par value, 150,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 720,000 108,209 599,000 $1,418,000 Stockholders' Equity (December 31, 2017) Common stock-$12 par value, 150,000 shares authorized, 69,810 shares issued, 5,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($132,000 restricted by treasury stock) $ 837,720 245,340 1,060,000 2,143,060 (132,000) $2,011, 060 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during year 2017 Jan. 5 Declared a $2.40 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $2.40 per share cash dividend, payable on April 19. July 5 Declared a $2.48 per share cash dividend, payable on July 1e. July 31 Declared a 18% stock dividend when the stock's market value was $26 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $2.40 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Dividends Cash dends Stock Dividend General Ledger tab - Prepare journal entries for each transaction. Cash Dividends tab - Calculate the amount of each cash dividend Stock Dividend tab - Calculate the amount of retained earnings to be capitalized. LESS LULUI reasury SLULK Total stockholders' equity $2,011,860 The following transactions and events affected its equity during year 2017 Dan. S Declared a $2.40 per share cash dividend payable on January 18, Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $2.40 per share cash dividend, payable on April 10. July 5 Declared a $2.40 per share cash dividend, payable on July 10. July 31 Declared 18% stock dividend when the stock's market value was $26 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $2.40 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Dividends d Stock Dividend Note: The ending equity balances should agree with the December 31, 2017 Statement of Stockholders' Equity. Dates: Jan 01 to: Dec 31 General Ledger Account Cash Common dividend payable Debit Credit Debit Credit Date Balance Date Jan 01 Balance 2.703.004 Jan 01 Jan 05 72.000 72.000 Cormon stoch Paid-in capital, Common Debit Credit NO Date Debit Cred Balance 08.000 7201000 Income summary Retained earnings Debit Credit Date Balance No Date Debit Credit Balance (1.285.004 Jan 01 Jan 01 Jan 05 72.000 518,000 General Joumal Il Balance > Less LUSE Leasury SCULK Total stockholders' equity The following transactions and events affected its equity during year 2017 Jan. 5 Declared a $2.40 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $2.40 per share cash dividend, payable on April 10. July 5 Declared a $2.40 per share cash dividend, payable on July 10 July 31 Declared a 18 stock dividend when the stock market value $26 per Share Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $2.40 per share cash dividend, date of record October 10. Cash Requirement General Journal General Ledger Trial Balance Dividends Stock Dividend Stock Dividend Dade Group Trial Balance December 31, 2017 Account Title Credit Debit 2.703.004 Cash Common dividend payable Common stock Paid in capital. Common Retained earnings Income summary 72.000 720 000 108 000 518,000 1.285.004 703.004 Total 5 2 .703.00452