-76 III View Policies Current Attempt in Progress The stockholders' equity accounts of Bridgeport Corp. on January 1, 2022, were as follows. Preferred Stock (7%. $100 par noncumulative, 5,500 shares authorized) Common Stock ($4 stated value, 330,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (5,500 common shares) $330,000 1,100,000 16,500 528,000 756,800 44,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Nov. 1 Dec. 1 Dec. 31 Issued 5,500 shares of common stock for $33,000. Purchased 1,100 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31 Determined that net income for the year was $308,000. Paid the dividend declared on December 1. Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statement Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to decimal places, eg. 5.275.) Question 7 of 15 - /6 Journalize the transactions. Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to decimal places, eg. 5.275.) Date Account Titles and Explanation Debit Credit (To record net income) Question 7 of 15 -16 Preferred Stock Common Stock V Paid-in Capital in Excess of Par Value-Preferred Stock V Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Prepare the stockholders' equity section of the balance sheet at December 31, 2022. BRIDGEPORT CORP. Partial Balance Sheet > List of Accounts Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note: Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round answers to 2 decimal places, eg. 15.25.) % Payout ratio Earnings per share Return on common stockholders' equity $ %% eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit