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 736 preferred shares to Natalie's brother for $3,680. Declares a semiannual dividend to the preferred stockholders of record on May 15, payable on June 1. Repurchases 690 shares of common stock issued to the lawyer, for $460. Recall that these were originally issued for $690. 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 $425,500 and incurred operating expenses of $340,400 (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, payable on December 1. 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, 9,200 shares authorized, 1,840 issued Common stock, no par value, 92,000 shares authorized, 23,858 issued $9,200 23,858 Cookie & Coffee Creations then has the following selected transactions during its first year of operations. 2022 Dec. 1 Issues an additional 736 preferred shares to Natalie's brother for $3,680. 2023 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 2022 Dec. 1 Cash 2023 Preferred Stock Debit 3680 Apr. 30 Operating Expenses 644 June 1 Dividends Payable Dividends Payable Cash 644 Credit 368 64 64 2023 Apr. 30 Operating Expenses 644 June 1 Dividends Payable 644 Dividends Payable Cash June 30 Treasury Stock 460 Cash Oct. 31 Cash Sales Revenue (To record income tax expense) 425500 64 64 46 42550 June 30 Cash Treasury Stock 460 Cash Oct. 31 Cash Oct. 31 Sales Revenue (To record income tax expense) Operating Expenses Cash (To record dividend declared) 425500 340400 64 46 42550 34040 (b) Prepare the statement of retained earnings for the year. (List items that increase retained earnings first. If answer is zero, please enter O, do not leave any field blank.) COOKIE & COFFEE CREATIONS INC. Statement of Retained Earnings : A +A (c) 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 $ A : $ (d). 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