Abd6/question/6 rk Part 2 Question 7 of 12 View Policies - / 1 Current Attempt in Progress The stockholders' equity accounts of Concord Corporation on January 1, 2022. were as follows. Preferred Stock (7%, $100 par noncumulative, 7.000 shares authorized) Common Stock ($4 stated value, 420,000 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 (7,000 common shares) $420,000 1.400,000 21,000 672.000 963.200 56,000 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 7,000 shares of common stock for $42,000. Purchased 1,400 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 $390,000. 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 Question 7 of 12 - / 1 III 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. 5275) Date Account Titles and Explanation Debit Credit ? * 3 2 V fch 11: Homework Part 2 Question 7 of 12 Preferred Stock Common Stock Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings le Question 7 of 12 -/1 CONCORD CORPORATION Partial Balance Sheet v $ ? * 8 C A otv LUILJULI 24 e Textbook and Media 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 17.50%) % Payout ratio Earnings per share Return on common stockholders' equity eTextbook and Media List of Accounts Attempts: 0 of 3 used Submit ? A