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Myconos Company reports the following components of stockholders' equity on January 1. Comon stock-$10 par value, 130,000 shares outhor1zed, 50,000 shares 1ssued and outstanding Paid-in copital in excess of par value, common stock Retained earnings Total stockholders' equity During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 5,000 shares of its own stock at $23 cash per share, January 5 oirectors declared a $2 per share cash dividend payable on February 28 to the February 5 stockhalders of record. February 28 paid the dividend declared on Jonuary 5 . July 6 Sold 2,500 of its treasury thares at $27 cash per thare. August 22 5old 2,500 of its treasury shares at $19 cash per share. Septenber 5. pifectors declared a $2 pen share cash dividend payable on october 28 to the septenber 25 stockholders of record. october 26 . Paid the dividend deciared on Septenber 5. December 31 Closed the $238, beo credit balance (trom net income) in the Insone Sumnary Account to Retained tarnings. Journal entry worksheet $$\text{Unknown environment 'tabular'}$$ Purchased 5,000 shares of its own stock at $23 cash per share, Note: Enter debits before credits. Prepare the Statement of Retained Earnings for Myconos Corporation for the year ended December 31 . Prepare the stockholders' equity section of Myconos Corporation's balance sheet as of December 31 . For each transaction, indicate the impact on total stockholders' equity. Enter decreases to equi values. Verify that total Stockholders' equity as of December 31, as calculated, agrees with the amount balance sheet

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