n January $1,2023,$ King$$s Stockholders$$ equity accounts are as follows:

Common Stock $$5$ par $(200,000$ shares authorized, $100,000$ shares issued$)$ $$500,000$

PIC in Excess par $-$ Common Stock $$300,000$

Retained Earnings $$600,000$

Treasury Stock $(15,000$ shares at cost$)$ $$75,000$

The following transactions occurred during the year:

$1/10$: Declared a cash dividend of $$1\mathrm{.}00$ per share on the common stock outstanding.

$2/10$: Paid the cash dividend that was previously declared on $1/10.$

$3/25$: Sold $9,000$ shares of the treasury stock at $$10\mathrm{.}00$ per share.

$5/10$: Issued $12,000$ shares of common stock for $$15\mathrm{.}00$ per share.

$8/15$: The directors declared a $4\%$ stock dividend to be distributed on $9/15.$ The market value is $$20$ per share on this date.

$9/15$: Distributed the Stock Dividend declared on $8/15.$

$10/34$: Sold the remaining $6,000$ shares of treasury stock for $$4$ per share.

$12/01$: Declared a cash dividend of $$1\mathrm{.}00$ per share on the common stock outstanding. The dividend will be paid next year.

$12/31$: Closed the $80,000$ credit balance of the income summary account.

$12/31$: Closed the dividends accounts.

REQUIRED:

Complete the journal entries for the above transactions

Complete the statement of stockholders equity.