Marcellus Corporation reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 110,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity During the year, the following transactions affected its stockholders' equity accounts. $ 400,000 60,000 330,000 $ 790,000 January 2 Purchased 4,000 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 2,000 of its treasury shares at $27 cash per share. August 22 Sold 2,000 of its treasury shares at $19 cash per share. September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the dividend declared on September 5. December 31 Closed the $549,500 credit balance (from net income) in the Income Summary account to Retained Earnings. For each transaction, indicate the impact on total stockholders' equity. Enter decreases to equity as negative values. Verify that total Stockholders' equity as of December 31, as calculated, agrees with the amount reported on the balance sheet. Total Stockholders' Equity - January 1 January 2) Purchased 4,000 shares of its own stock at $23 cash per share. February 28) Paid the dividend declared on January 5. January 5) Directors declared a $2 per share cash dividend payable on February 28 to the February 5 Stockholders' equity decreased stockholders of record. July 6) Sold 2,000 of its treasury shares at $27 cash per share. Impact on equity August 22) Sold 2,000 of its treasury shares at $19 cash per share. Stockholders' equity decreased No change in total equity Stockholders' equity increased Stockholders' equity increased September 5) Directors declared a $2 per share cash dividend payable on October 28 to the September stockholders cord. October 28) Paid the dividend declared on September 5. December 31) Closed the $549,500 credit balance (from net income) in the Income Summary account Stockholders' equity increased to Retained Earnings. Stockholders' equity decreased No change in total equity Dates: January 01 $ to: January 01