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em c, d, and e. Explanations are not comited Enter anations from * More Info 5.50 per share. a. Net income, $448 million b. Issuance of 20 million shares of common stock for $16.50 per share c. Purchase of 5 million shares of treasury stock for $70 million d. Sold 4 million of the treasury shares purchased in partc for $60 million e. Declaration and payment of cash dividends of $36 million nillion. Print Done i Data Table $ 112 Common stock, $4.00 par value per share, 28 million shares issued Paid-in capital in excess of par value Retained earnings of 14 260 (40) Treasury stock, at cost 69 346 Total stockholders' equity Print Done ion. are the journal entry for the payment of the dividend next. Ar December 31, 2021, Northern Corporation reported the stockholders' equity accounts shown here with dollar amounts in millions, except per-share amounts) Click the icon to view the data) Northern's 2022 transactions included (Click the icon to view the transactions.) Requirements 1. Journalize Northern's transactions in parts b, c, d, and e. Explanations are not required 2. What was the overall effect of these transactions (parts a-e) on Norther's stockholders' equity? Requirement 1. Journalize Northern's transactions in b. 0, 0, and e. Explanations are not required. (Enter amounts in millions as prov statement. Record debits first, then credits. Exclude explanations from any journal entries.) b. Issuance of 20 million shares of common stock for $16.50 per share Journal Entry Date Accounts Debit Credit b. c. Purchase of 5 million shares of treasury stock for $70 million Journal Entry Date Accounts Debit Credit C. Sold 1 d. Sold 4 million of the treasury shares purchased in partc for $60 million Journal Entry Date Accounts Debit Credit d. e 1. Declaration and payment of cash dividends of $36 million. Journalize the declaration of the dividend only. You will prepare the journal entry for the payment of the dividend next. Journal Entry Date Accounts Debit Credit e 1. e 2. Declaration and payment of cash dividends of $36 million. Now journalize the payment of the cash dividends, Journal Entry Date Accounts Debit Credit e 2 Requirement 2. What was the overall effect of these transactions (parts a through o) on Northern's stockholders' equity? (En or parentheses) The overall net increase (decrease) on stockholders' equity, in millions, is

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