During the year, the following transactions occurred. Feb 1 Mar. 1 Apr. 1 July 1 31 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February. Announced a 2-for-1 stock split. Prior to the split, the market price per share was $35. 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. Issued the shares for the stock dividend. Dec. 1 Declared a $0.30 per share dividend to stockholders of record on December 15, payable January 5, 2021. 31 Determined that net income for the year was $300,000. Date Account Titles and Explanation Debit Credit Jan. 1 1 ish Dividendi Dividends Payable Jan. 5 0 Dividends Payable Feb. 1 Mar. 1 Apr.1 July 1 Cash Apr.1 July 1 July 31 # Dec. 1 (To close net income) Dec 31 (To close stock dividends) (To close cash dividends)