During the year, the following transactions occurred. Feb. 1 Declared a 1 cash dividend per share to shareholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 5-for-1 share split. Prior to the split, the market price per share was 37. July 1 Declared a 10\% share dividend to shareholders of record on July 15 , distributable July 31 . On July 1 , the market price was 7 per share. 31 Issued the shares for the share dividend. Dec. 1 Declared a 0.40 per share dividend to shareholders of record on December 15, payable January 5, 2026. 31 Determined that net income for the year was 348,000. Journalize the transactions and the closing entries for net income and dividends. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) \begin{tabular}{|c|c|c|c|} \hline & Common Stock & & 145,000 \\ \hline \multirow[t]{2}{*}{ Dec. 1} & Cash Dividends & 58,000 & \\ \hline & Dividends Payable & & 58,000 \\ \hline \multirow[t]{3}{*}{ Dec. 31} & Income Summary & 348,000 & \\ \hline & Retained Earnings & & 348,000 \\ \hline & To close net income) & & \\ \hline \multirow[t]{3}{*}{ Dec. 31} & Retained Earnings & 121,800 & \\ \hline & Share Dividends & & 121,800 \\ \hline & To close share divide & & \\ \hline \multirow[t]{2}{*}{ Dec. 31} & Retained Earnings & 116,000 & \\ \hline & Cash Dividends & & 81,200 \\ \hline \end{tabular}