a) Enter the beginning balances in the accounts and post the journal entries to the stockholders equity accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.)

b)Prepare the stockholders equity section of the balance sheet at December 31, 2017.

c)Calculate the payout ratio, earnings per share, and return on common stockholders equity.

3, E11-14 & P11-2A Question 3 of 3 -79 View Policies Current Attempt in Progress The stockholders' equity accounts of Indigo Corporation on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 4.000 shares authorized) Common Stock ($5 stated value, 326,000 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 (4,000 common shares) $240.000 1.358,333 12,000 521,600 711,000 32,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Nov. 1 Issued 4620 shares of common stock for $32,340. Purchased 1,550 additional shares of common treasury stock at $9 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1 Declared a $0.80 per share cash dividend to common stockholders of record on December 15. payable December 31, 2017 Determined that net income for the year was $279.000. Paid the dividend declared on December 1. Dec 1 Dec 31