During the year, the following transactions occurred. Feb. 1. Declareda $3 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. Announced a 2-for-1 stock split. Prior to the split, the market price per share was $40. July Declared a 10\% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of: the stock was $14 per share. 31 Issued the shares for the stock dividend. Dec. Declared a \$0.50 per share dividend to stockholders of record on December 15, payable January 5, 202.1. 31 Determined that net income for the year was $340,000. Account Titles and Explanation Debit Credit Cash Dividends Dividends Payable Dividends Payable NoEntry NoEntry Stokk Dividends Paid in Capital in Excess of Par Common Stock Conemon 5tock Dividends Distritutable Conmoni Stock Divideneds Ditr butabin 132000 i Cominonstick Stock Dividends: Dividends Payable income Summary Retained Earnings (To close net income) Retained Earnings Stock Dividends (To close stock dividends) Retained Earnings CashDividends (To close cash dividends) eTextbook and Media