On December 31, 2020, Oriole Corporation had the following shareholders equity accounts:

ORIOLE CORPORATION Balance Sheet (partial) December 31, 2020
Shareholders equity
Common shares (unlimited number of shares authorized, 90,000 issued)		$ 1,023,000
Retained earnings		550,000
Total shareholders equity		$ 1,573,000

During the year, the following transactions occurred:

Jan.		15		Declared a $ 1 per share cash dividend to shareholders of record on January 31, payable February 15.
July		1		Announced a 3-for- 2 stock split. The market price per share on the date of the announcement was $ 12.
Dec.		15		Declared a 15% stock dividend to shareholders of record on December 30, distributable on January 15. On December 15, the market price of each share was $ 8; on December 30, $ 10; and on January 15, $ 9.
		31		Determined that profit before income tax for the year was $ 488,000. The company has a 25% income tax rate.

Journalize the transactions and closing entries for 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 15Jan. 31Feb. 15July 1Dec. 15Dec. 30Dec. 31
	(To record declaration of cash dividend.)
Jan. 15Jan. 31Feb. 15July 1Dec. 15Dec. 30Dec. 31
Jan. 15Jan. 31Feb. 15July 1Dec. 15Dec. 30Dec. 31
	(To record payment of dividend.)
July 1	Memo: 3-for- 2 stock split increases the number of shares to
Jan. 15Jan. 31Feb. 15July 1Dec. 15Dec. 30Dec. 31
	(To record declaration of stock dividend.)
Jan. 15Jan. 31Feb. 15July 1Dec. 15Dec. 30Dec. 31
Jan. 15Jan. 31Feb. 15July 1Dec. 15Dec. 30Dec. 31
	(To close Income Summary.)
Jan. 15Jan. 31Feb. 15July 1Dec. 15Dec. 30Dec. 31
	(To close dividends to retained earnings.)

eTextbook and Media

List of Accounts

Enter the beginning balances from the December 31, 2020, partial balance sheet. Post the entries in part (a) to the shareholders equity accounts. (Note: Open additional shareholders' equity accounts as needed.)

Common Shares
Date	Explanation	Ref.	Debit	Credit	Balance
Jan. 1	Balance
Stock Dividends Distributable
Date	Explanation	Ref.	Debit	Credit	Balance
Dec. 15		J1
Cash DividendsCommon
Date	Explanation	Ref.	Debit	Credit	Balance
Jan. 15		J1
Dec. 31	Closing entry	J1
Stock Dividends
Date	Explanation	Ref.	Debit	Credit	Balance
Dec. 15		J1
Dec. 31	Closing entry	J1
Retained Earnings
Date	Explanation	Ref.	Debit	Credit	Balance
Jan. 1	Balance
Dec. 31	Closing entry	J1
Dec. 31	Closing entry	J1

eTextbook and Media

List of Accounts

Prepare the shareholders equity section of the balance sheet at December 31, 2021.

ORIOLE CORPORATION Partial Balance Sheet For the Month Ended December 31, 2021For the Year Ended December 31, 2021December 31, 2021
Total LiabilitiesShareholders' EquityTotal Long-Term LiabilitiesTotal Liabilities and Shareholders' EquityTotal Intangible AssetsTotal AssetsTotal Shareholders' EquityIntangible AssetsTotal Current LiabilitiesCurrent AssetsTotal Long-Term InvestmentsProperty, Plant and EquipmentLong-Term LiabilitiesLong-Term InvestmentsCurrent LiabilitiesTotal Current AssetsTotal Property, Plant and Equipment
Accumulated Other Comprehensive IncomeShare CapitalContributed SurplusReacquired SharesTotal Share CapitalOwner's Drawings
					$
Total Share CapitalOwner's DrawingsContributed SurplusReacquired SharesAccumulated Other Comprehensive IncomeShare Capital
Total LiabilitiesShareholders' EquityIntangible AssetsTotal Property, Plant and EquipmentCurrent LiabilitiesTotal Long-Term LiabilitiesTotal Current LiabilitiesTotal Shareholders' EquityProperty, Plant and EquipmentTotal Intangible AssetsTotal Long-Term InvestmentsLong-Term LiabilitiesTotal Liabilities and Shareholders' EquityLong-Term InvestmentsTotal Current AssetsCurrent AssetsTotal Assets					$