On January 1, 1998, Casey Stengel Corporation had these stockholders' equity Prepare dividend entries, accounts:

\section*{Instructions}

(a) Journalize the transactions.

(b) Enter the beginning balances and post the entries to the stockholders' equity \(\mathrm{T}\) accounts. [Note: Open additional stockholders' equity accounts as needed.]

(c) Prepare the stockholders' equity section of the balance sheet at December 31.

(d) Calculate the dividend yield, payout ratio, earnings per share, price-earnings ratio, and return on common stockholders' equity ratio.

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Common Stock ($20 par value, 60,000 shares issued and outstanding) $1,200,000 Paid-in Capital in Excess of Par Value 200,000 Retained Earnings 500,000