The balance sheet of Goldstein Management Consulting, Inc. at December 31, 2017, reported the following stockholders' equity: During 2018, Goldstein completed the following selected transactions:

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The of Goldstein Management Consulting, Inc. at December 31, 2017, reported the following stockholders' equity:

Stockholders' Equity Paid-In Capital: Common Stock-$10 Par Value; 350,000 shares authorized, 32,000 shares issued and ou

During 2018, Goldstein completed the following selected transactions:
Feb. 6 Declared a 15% stock dividend on common stock. The market value of Goldstein's stock was $25 per share.
15 Distributed the stock dividend.
Jul. 29 Purchased 2,300 shares of treasury stock at $25 per share.
Nov. 27 Declared a $0.10 per share cash dividend on the common stock outstanding.
Requirements
1. Record the transactions in the general journal.
2. Prepare a retained earnings statement for the year ended December 31, 2018. Assume Goldstein's net income for the year was $90,000.
3. Prepare the stockholders' equity section of the balance sheet at December 31, 2018.

Stockholders' Equity Paid-In Capital: Common Stock-$10 Par Value; 350,000 shares authorized, 32,000 shares issued and outstanding $ 320,000 Paid-In Capital in Excess of Par-Common 330,000 Total Paid-In Capital 650,000 Retained Earnings 160,000 Total Stockholders' Equity $ 810,000

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