E11.12 (LO 2, 3), AP The stockholders' equity accounts of Ripley Corporation on January 1, 2022, were as follows. Journalize transactions for stock issuance, treasury stock purchase, cash dividend, and closing entries. Preferred Stock (8%, $100 par noncumulative, 5,000 shares authorized) 400,000 Common Stock ($10 stated value, 800,000 shares authorized) 1,500,000 Paid-in Capital in Excess of Par Value-Preferred Stock 55,000 Paid-in Capital in Excess of Stated Value-Common Stock 880,000 Retained Earnings 760,000 Treasury Stock (8,000 common shares) 64,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Issued 6,000 shares of common stock for $85 per share. Mar 1 Purchased 1,000 additional shares of common treasury stock at $11 per share. June 22 Declared a 8% cash dividend on preferred stock, payable October 1. Paid the dividend declared on September 1. Sept. 1 Oct 1 Declared a $o.70 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. Dec. 1 Determined that net income for the year was $110,000. Paid the dividend declared on December 1. 31 Instructions Journalize the transactions for the dates shown. Include entries to close net income and dividends to Retained Earnings