At December 31, 2014, Townlynn Corporation reported the stockholders’ equity accounts shown here (with dollar amounts in millions, except per-share amounts). Common stock $2.00 par value per share, 2,300 million shares issued……………. $ 4,600 Paid-in capital in excess of par value….. 4,100 Retained earnings……………………………. 1,565 Treasury stock, at cost…………………….. (48) Total stockholders’ equity…………….. $10,217 Townlynn’s 2015 transactions included a. Net income, $374 million b. Issuance of 9 million shares of common stock for $11 per share c. Purchase of 1 million shares of treasury stock for $12 million d. Sale of 500,000 of the treasury shares purchased for $7 million e. Declaration and payment of cash dividends of $23 million Requirements 1. Journalize Townlynn’s transactions in parts b, c, d, and e. Explanations are not required. 2. What was the overall effect of these transactions (parts a through e) on Townlynn Corporation’s stockholders’ equity?

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