ct "No Entry" for the Record the tollowig transactions which occurred censecutively. (Credit account tites are automaticalty indented when amount is entered. Do not indent manually. If no entry is requfred, select "No Entrv" for the account titles and enter 0 for the amounts.) 1. A total cash dividend ot $105,000 was dedared and payable to stockhclders of record, Record dividends payable on common and pretered stock In separete accounts 3. Assure tat net income ror the year was $146,000 (record the closing entry) and the board of directors appropriated $66,000 or retained earnings for plant expansion. A 15% common stock dividend was declared. The average fair value of the common stock is $24 a share. Balance Sheet (Partial Stockholders' Equity 440000 Common Stock 44000 Common Stock Dividend Distributable Paid-in Capital in Excess of Par - Common Stock Preferred Stock 350000 Total Paid-in Capital Retained Earnings Retained Earnings Appropriated for Plant Expansic 66000 Total Retained Earnings Total Stockholders' Equity Click if you would like to Show Work for this question: Open Show Work Problem 145 Foley Corporation has the following capital structure at the beginning of the year: 4% Preferred stock, $50 par value, 20,000 shares authorized, 7,000 shares issued and outstanding Common stock, $10 par value, 60,000 shares authorized, 44,000 shares issued and outstanding Paid-in capital in excess of par Total paid-in capital Retained earnings Total stockholders' equity $350,000 440,000 118,000 908,000 447,000 $1,355,000