Exercise 11-12 The stockholders' equity accounts of Coronado Industries on January 1, 2022, were as follows. Preferred Stock (8%, $100 par noncumulative, 5,000 shares authorized) $495,000 Common Stock ($10 stated value, 800,000 shares authorized) 1,550,000 Paid-in Capital in Excess of Par Value-Preferred Stock 65,000 Pald-in Capital in Excess of Stated Value --Common Stock 910,000 Retained Earnings 760,000 Treasury Stock (8,400 common shares) 67,200 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Mar 1 Issued 6,900 shares of common stock for $90 per share. June 22 Purchased 1,600 additional shares of common treasury stock at $11 per share. Sept. 1 Declared a 8% cash dividend on preferred stock, payable October 1. Oct. 1 Paid the dividend declared on September 1. Dec. 1 Declared a $0.80 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. 31 Determined that net income for the year was $128,000. Pald the dividend declared on December 1. Journalize the transactions for the dates shown. Include entries to close net income and dividends to Retained Earnings. (Record journal account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No amounts.) Date Account Titles and Explanation Debit Credit Mar. 1 V Cash Common Stock Paid-in Capital in Excess of Par Value-Common Stock June 22 Sept. 1 v Oct. 1