Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entrics 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 tities and enter O for the amounts. List all debit entries before credit entries) Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Cash Dividends Treasury Stock NOVAK CORP. Partial Balance Sheet December 31, 2025 Stockholders' Equity Pecefred Stock Common Stock Total Capitalskock Additional Paid-in Capital Paid-in Capitalin Excess of Par-Preferred Stock Totsi Auditionsal Paid-in Capleal The stockhoiders' equity accounts of Novak Corp. on January 1, 2025, were as follows. During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 12,500 shares of common stock for $75,000. Mar: 20 Purchased 2,500 additional shares of common treasury stock at $7 per share. Oct. 1 Declareda 7% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dlvidend declared on October 1. Dec; 1 Declared a \$0.50 per share cash dividend to common stockholders of record on December 15, payable December 31. 2 Dec. 31 Determined that net income for the year was $700.000. Paid the dividend declared on December 1 . Retained Earnings Dividends Payable Desis 31 Inkome 5ummary Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Common 5 tock Paid-in Capital in Excess of Stated Value-Common Stock Partial Balance Sheet December 31,2025 Stockholder' Equity Prelerred 5tock Common 5tock Total Capitaistock Additional Paidith Copital Pald in Capital in Excess of Par. Preferred Stock Total Additions: Prididin Capital