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 108 million common shares, $1 par per share Beginning balance Retained Earnings (5 in Millions) 103 Retirement of 8 million common shares for $32 million 6 87 Declaration and payment of a $0.35 per share cash dividend 35 Declaration and distribution of a 6% stock dividend 34 115 Net income for the year Ending balance 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 2021. 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 2021