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Completedthefollowing transactionsrelatedtostockholders'equityin year2016:Jan10Purchased40,000sharesofits ownstockat$12cashpershare.Mar2Directors declareda$1.50persharecashdividendpayableon March31totheMarch15stockholdersofrecord. Mar31Paidthedividenddeclaredonmarch2.11 Sold24,000ofitstreasurysharesat$13cashper share.25Sold16,000ofitstreasurysharesat $9.50cashpershare.Dec.1Directorsdeclareda $2.50persharecashdividendpayableonJanuary2 totheDecember10stockholdersofrecord.Dec31 Closedthe$1, 072, .000creditbalance(fromnet...

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Completedthefollowing transactionsrelatedtostockholders'equityin year2016:Jan10Purchased40,000sharesofits ownstockat$12cashpershare.Mar2Directors declareda$1.50persharecashdividendpayableon March31totheMarch15stockholdersofrecord. Mar31Paidthedividenddeclaredonmarch2.11 Sold24,000ofitstreasurysharesat$13cashper share.25Sold16,000ofitstreasurysharesat $9.50cashpershare.Dec.1Directorsdeclareda $2.50persharecashdividendpayableonJanuary2 totheDecember10stockholdersofrecord.Dec31 Closedthe$1, 072, .000creditbalance(fromnet income)intheIncomeSummaryaccounttoRetained Earnings.RequiredPreparejournalentriestorecord eachofthesetransactionsfor2016.Preparea statementofretainedearningsfortheyearended December31, 2016.Preparethestockholders' equitysectionofthecompany'sbalancesheetasof December31, 2016

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