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The stockholders' equity accounts of Riverbed Corp on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 15,000 shares authorized) Common Stock ($4 stated value, 900,000 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 (15,000 common shares) $900,000 3,000,000 45,000 1,440,000 2,064,000 120,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Issued 15,000 shares of common stock for $90,000. Purchased 3,000 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31 Determined that net income for the year was $840,000. Paid the dividend declared on December 1. Nov. 1 Dec. 1 Dec. 31 Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Feb. 1 Cash 90.000 Common Stock 60,000 Paid-in Capital in Excess of Par Value-Common Stock 30,000 Mar. 20 Treasury Stock 21,000 Cash 21,000 Oct. 1 Cash Dividends 63,000 Dividends Payable 63,000 Nov. 1 Dividends Payable 63,000 Cash 63,000 Dec. 1 Cash Dividends 376,500 Dividends Payable 376,500 Dec. 31 Dividends Payable 376,500 Cash 376,500 (To record net income) Dec. 31 Income Summary 840,000 Retained Earnings 840,000 (To close cash dividends) Dec. 31 Retained Earnings 439,500 Cash Dividends 439,500 (To record payment of cash dividends payable) Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Preferred Stock 1/1 Bal. 900,000 12/31 Bal. 900,000 Common Stock 1/1 Bal. 3,000,000 2/1 60.000 12/31 Bal. 3060000 Paid-in Capital in Excess of Par Value-Preferred Stock 1/1 Bal. 45,000 12/31 Bal. 45,000 Paid-in Capital in Excess of Stated Value-Common Stock 1/1 Bal. 1,440,000 2/1 30.000 12/31 Bal. 1740000 Retained Earnings 12/31 1/1 Bal. 2,064.000 12/31 840,000 12/31 Bal. Cash Dividends 10/1 12/31 12/1 12/31 Bal. Treasury Stock 1/1 Bal. 3/20 12/31 Bal. Prepare the stockholders' equity section of the balance sheet at December 31, 2022. RIVERBED CORP Partial Balance Sheet December 31, 2022 Stockholders' Equity Paid-in Capital Capital Stock Preferred Stock $ Common Stock Total Capital Stock $ Additional Paid-in Capital Paid-in Capital in Excess of Par Value-Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Total Additional Paid-in Capital Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings Less Treasury Stock Total Stockholders' Equity $ Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note: Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round answers to 2 decimal places, e.g. 15.25.) Payout ratio % Earnings per share Return on common stockholders' equity % eTextbook and Media List of Accounts
