el, Accounting, 6e | System Announcements Help The stockholders' equity accounts of Grouper Corp. on January 1, 2017, were as follows. $276,000 Preferred Stock (896, $100 par noncumulative, 4,600 Common Stock ($4 stated value, 320,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (4,600 common shares) shares authorized) 1,066,666 13,800 512,000 691,500 36,800 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 4,580 shares of common stock for $27,480. Mar. 20 Purchased 1,650 additional shares of rommon treasury stock at $7 per share Oct. 1 Declared a 8% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1 Dec. 1 Declared a $0.60 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Dec. 31 Determined that net income for the year was $276,400. 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 displaye automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the accoun places,e.g.5,275.) Date Account Titles and Explanation Debit Credit TD