Entries for Selected Corporate Transactions Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity accounts of Morrow Enterprises Inc., with balances on January 1, 20Y5, are as follows: The following selected transactions occurred during the year: Jan. 22. Paid cash dividends of $0.15 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $54,000. Apr. 10. Issued 75,000 shares of common stock for $1,350,000. June 6. Sold all of the treasury stock for $720,000. July 5 . Declared a 5% stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share. Aug. 15. Issued the certificates for the dividend declared on July 5. Nov. 23. Purchased 25,000 shares of treasury stock for $500,000. Dec. 28. Declared a $0.18-per-share dividend on common stock. 31. Closed the credit balance of the income summary account, $9,443,000. 31. Closed the two dividends accounts to Retained Earnings. Paid-In Capital in Excess of Stated Value-Common Stock Paid-In Capital from Sale of Treasury Stock 2. Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Apr. 10. Issued 75,000 shares of common stock for $1,350,000. June 6. Sold all of the treasury stock for $720,000. July 5. Declared a 5% stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share. Aug. 15. Issued the certificates for the dividend declared on July 5 . Nov. 23. Purchased 25,000 shares of treasury stock for $500,000. Dec. 28. Declared a $0.18-per-share dividend on common stock. Dec. 31. Closed the credit balance of the income summary account, $9,443,000. Dec. 31. Closed the credit balance of the income summary account, $9,443,000. Dec. 31. Closed the two dividends accounts to Retained Earnings. 4. Prepare the Stockholders' Equity section of the December 31,20Y5, balance sheet