Kimmel, Accounting, 6e Help I System Announcements Problem 11-8A (Part Level Submission) On January 1, 2017, Tacoma Corporation had these stockholders' equity accounts. Common Stock ($10 par value, 70,000 shares issued and outstanding) $700,000 Paid-in Capital in Excess of Par Value 500,000 Retained Earnings 620,000 During the year, the following transactions occurred. Jan. 15 Declared a $0.50 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Paid the dividend declared in January Apr. 15 Dedared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April is, the market price of the stock was S14 per share. May 15 Issued the shares for the stock dividend. Dec. Declared a s0.60 per share cash dividend to stockholders of record on December 15, payable January 10, 2018. 1 Dec. 31 Determined that net income for the year was $400,000 Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statem account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required select Entry-forthe aces ant tak o for the amounts.) DebitC Credit and Explanation DateAcco Jan. 15 arch