Identifying and Analyzing Financial Statement Effects of Dividends

The stockholders' equity of DiFrancesco Company at March $31,2019$ is shown below.

The following transactions, among others, occurred during the fiscal year ended March $31,2020.$

April $15,2019$ Declare and pay preferred dividends of $$420,000.$

April $15,2019$ Declare and pay common dividends of $$1\mathrm{.}50$ per share.

October $1,2019$ Execute a $3-$for$-1$ stock split of the common stock when the stock price was $$147$ per share.

March $1,2020$ Declare and pay common dividends of $$0\mathrm{.}70$ per share.

$($a$)$ Use the financial statement effects template to indicate the effects of these separate transactions.

Note: Use negative signs with answers, when appropriate.

$($b$)$ At March $31,2020,$ the company reported net income for the year of $$8,900,610.$ Compute retained earnings as of March $31,2020.$

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