NAME On Jan. 1, the Harrison Corp. had a T stockholders' equity ofs9s00.000 distributed in the following accounts: Common Stock ($20 par value,1,000,000 shares authorized, 200,000 shares issued) S4,000,000 Paid-in Capital in Excess of Par Value siA00,000 Retained Earnings S4,560,000 Treasury Stock (2,000 shares-came from a single purchase) (S 360,000) Work through the following events of this current year carefully. It would be helpful to use a spreadsheet or T accounts-- to keep things organized--but it is not a required part of the problem to show that work. Keep careful count of of shares and of SSSS Don't forget the impact of the closing entry to close the Income Summary Account on Dec.31 1. Jan 10 Declared a 5% stock dividend (only for the outstanding stock) to be distributed on February 15. (Market value on the date of declaration was S240 2. April 15 Declared a $.60 per share cash dividend to stockholders of record on April 30, distributable on May 15. 3. July 1 Announced a 2-for 1 stock split. The market price per share just prior to the split was $22. The stockholders of record will be immediate. Any transfer of certificates will take place on or-by July 31. 4. Sept 1 Sold one-half of all our treasury stock for $15 a share. 5. Dec. 1 Declared a $.50 per share cash dividend to stockholders of record on January 5, payable to stockholders on January 15. 5. Dec. 31 After adjusting entries and the first two closing entries the Income Summary Account has a credit balance of$250,000. In doing the end ofthe year financial statements-Dec. 31 you would have to supply the following data Please supply (compute) the information requested by putting your answer on the following page on the line provided. Remember--this information is on the Dec. 31 Financial Statements after closing entries-so of the answers are AFTER the events at the top