Current Attempt in Progress The stockholders' equity accounts of Bramble Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 4,500 shares authorized) $270,000 Common Stock ($4 stated value, 270,000 shares authorized) 900,000 Paid-in Capital in Excess of Par Value-Preferred Stock 13,500 Paid-in Capital in Excess of Stated Value-Common Stock 432,000 Retained Earnings 619,200 Treasury Stock (4,500 common shares) 36,000 During 2022, the corporation had the following transactions and events pertaining to its stockholdet s'equity. Feb. 1 Issued 4,500 shares of common stock for $27,000. Mar. 20 Purchased 900 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. Dec. 31 Determined that net income for the year was $254,000. 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 displayed i account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"for the account amounts. Round answers to decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit UNDUMLJ. Ulu unswers U decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit 1 4 (To record net income) (To close cash dividends) (To record payment of cash dividends payable) eTextbook and Media I List of Accounts Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. (Post entries in the order of journal en previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Preferred Stock + Preferred Stock Common Stock A Paid-in Capital in Excess of Par ValuePreferred Stock I Paid-in Capital in Excess of Stated Value-Common Stock 4 Retained Earnings Cash Dividends 4 Treasury Stock e Textbook and Media Prepare the stockholders' equity section of the balance sheet at December 31, 2022. BRAMBLE CORP. Partial Balance Sheet 42 $ $ Rai Liga : $ 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 or determine the average shares outstanding.) (Round answers to 2 decimal places, eg 17.50%.) Payout ratio % Earnings per share Return on common stockholders' equity % e Textbook and Media List of Accounts Attempts
