Chagter1-Problem 11-8A On January 1, 2017, Tacoma Corporation had these stockholders equity accounts Common Stock ($10 par value, 20,000 shares Paid-in Capital in Excess of Par Value tetila Retained Earnings During the yeat the following transactions occurred ss Declared a $0.50 cash dividend per share to stockholders of record on January 31, payable February 15 ss Paid the dividend declared in January. Nr- Declared a 10% stock dividend to stockholders of record on April 30, dstrbutable May 15. On April 15, the market price of the stock was $14 per share. Issued the shares for the stock dividend. Declared a $0.60 per share cash dividend to stockholders of record on December 1s, payable January 1o, 2018 Determined that net income for the year was $400,000 G Your answer is partially correct. Try again Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings) (Recond entries in the order displayed in the problem statement. Credit account tities are automatically indented when amount is entered. Do not indent manually. If ne entry is required, select "No Entry for the account titfes and enter for the amounts Your answer is partially correct. Try again Enter the beginning balances and post the entries to the stockholders equity T-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) Your answer is partially correct. Try again Enter the beginning balances and post the entres to the stockholders'y T. counts. rnst entries in thr Order of journal entries posted in the previous part. For accounts that erg en balan the entry should be the balance date and zero for the amount.) E Your answer is correct Prepare the stockholders' equity section of the balance sheet at December 31 E Your answer is correct Calloulate the payout ratio and return on common stockholders' equity. (Round answers to 1 decimal place eg, 12.5%.)