After establishing their company's fiscal year-end to be October 31, Natalie and Curtis begin operating Cookie & Coffee Creations Inc. on November 1, 2022. On that date, after the issuance of shares, the paid-in capital section of the company's balance sheet is as follows. Paid-in capital Preferred stock, $0.50 noncumulative, no par value. 12,800 shares authorized, 2,560 issued Common stock, no par value, 128,000 shares authorized, 33,200 issued $12,800 33.200 Cookie & Coffee Creations then has the following selected transactions during its first year of operations. 2022 Dec. 1 2023 Apr. 30 June 30. Oct. 31. 31 31 Issues an additional 1,024 preferred shares to Natalie's brother for $5.120. Declares a semiannual dividend to the preferred stockholders of record on May 15, payable on June 1. Repurchases 960 shares of common stock issued to the lawyer, for $640. Recall that these were originally issued for $960. The lawyer had decided to retire and wanted to liquidate all of her assets. The company has had a very successful first year of operations. It earned revenues of $592,000 and incurred operating expenses of $473,600 (including $765 legal fee, but excluding income tax). Records income tax expense. (The company has a 20% income tax rate) Declares a semiannual dividend to the preferred stockholders of record on November 15 navable on December 1 Oct. 31 -/1 E The company has had a very successful first year of operations. It earned revenues of $592,000 and incurred operating expenses of $473,600 (including $765 legal fee, but excluding income tax). 31 Records income tax expense. (The company has a 20% income tax rate) 31 Declares a semiannual dividend to the preferred stockholders of record on November 15, payable on December 1 (a) Prepare the journal entries to record the above transactions. (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 O for the amounts. Record journal entries in the order displayed in the problem statement.) Date Account Titles and Explanation Debit Credit 2022 2023 2023 (To record income tax expense) (To record dividend declared) please enter 0, do not leave any field blank.) COOKIE & COFFEE CREATIONS INC. Statement of Retained Earnings St Unswer is zen Prepare the stockholders' equity section of the balance sheet as of October 31, 2023. (Enter account name only and do not provide descriptive information) COOKIE & COFFEE CREATIONS INC. Balance Sheet (Partial) Stockholders' Equity Prepare closing entries for net income and cash dividends. (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 O for the amounts. Record journal entries in the order displayed in the problem statement.) Date Account Titles and Explanation (To close net income/(loss) (To close Cash Dividends to Retained Earnings) Debit Credit