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GL1101 - Based on Problem 11-2A LO C3, P2, P3 Sacramento Company reports the following components of stockholders equity on December 31, 2016: Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 75,000 410,000 $ 985, 000 In year 2017, the following transactions affected its stockholders' equity accounts Jan. 1 Purchased 5,000 shares of its own stock at $23 cash per share. Jan. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record Feb. 28 Paid the dividend declared on January 5 July 6 Sold 1,900 of its treasury shares at $27 cash per share Aug. 22 sold 3,100 of its treasury shares at $20 cash per share. Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record Oct. 28 Paid the dividend declared on September . Dee, 31 Closed the $280, 500 credit balance trom net income, in the rneome sumary account to neied Earnng, GeneralGeneral Ledger Statement of Stockholders Impact on Equity Requirement Journal Trial Balance RE Equity General Journal tab - Prepare the necessary journal entries Statement of Retained Earnings tab Prepare the Statement of Retained Earnings for the Sacramento Corporation for the year ended December 31, 2017 Stockholders' Equity tab - Prepare the Stockholders' equity section of Sacramento Corporation's December 31, 2017 balance sheet. Impact on Equity tab - For each transaction, indicate the total change in Stockholders' Equity, if any. Verify that total equity, as calculated, agrees with the amount reported on the Stockholders' Equity tab

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