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I need assistance om the sections i got inccorect The stockholders' equity accounts of Flounder Corp. on January 1.2022 were as follows. Preferred Stock (7%,

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The stockholders' equity accounts of Flounder Corp. on January 1.2022 were as follows. Preferred Stock (7%, $100 par noncumulative. 7.500 shares authorized) $450,000 Common Stock ($4 stated value, 450,000 shares authorized) 1.500,000 Paid in Capital in Excess of Par Value-Preferred Stock 22,500 Paid-in Capital in Excess of Stated Value--Common Stock 720,000 Retained Earnings 1,032,000 Treasury Stock (7.500 common shares) 60,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders equity. Feb. 1 Mar. 20 Oct. 1 Issued 7,500 shares of common stock for $45.000 Purchased 1,500 additional shares of common treasury stock at 57 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, 2 Determined that net income for the year was $420.000. Paid the dividend declared on December 1.. Nov. 1 Dec 1 Dec 31 Question 8 of 8 5.68 / 10 Your answer is part any correct 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 Common Stock 1/1 Bal. 1500000 2/1 30000 12/31 Bal 1530000 Paid-in Capital in Excess of Par Value-Preferred Stock Question 8 of 8 5. 1231 Bal 735000 Retained Earnings 12/31 218250 1/1 Bal 1032000 12/31 V 420000 12/31 Bal. 1233750 Cash Dividends 10/1 31500 12/31 218250 12/1 186750 Treasury Stock 1/1 Bal. Feb. 1 Cash 45000 Common Stock 30000 Paid-in Capital in Excess of Stated Value-Common Stock 15000 Mar. 20 Treasury Stock 10500 Cash 10500 Oct. 1 Cash Dividends 31500 Dividends Payable 31500 Nov 1 Dividends Payable 31500 Cash 31500 Deci Cash Dividends 186750 Dividends Payable 186750 Dec 31 Income Summary 420000 Question 8 of 8 6.01/10 UVOS Cash 31500 Dec 1 Cash Dividends 186750 Dividends Payable 186750 Dec. 31 Income Summary 420000 Retained Earnings 420000 (To record net income) De 1 Retained Earnings 21250 Cash Dwind 216250 (Todose cash dividende) Dec 31 Dividends Payable 1750 Ca 1867500 To recard payment of cash dividends payable)

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