On January $1,2022,$ Blossom Corporation had the following stockholders' equity accounts.

Common Stock $($$$26$ par value, $55,500$ shares issued and outstanding$)$ $$1,443,000$

Paid$-$in Capital in Excess of Par$-$Common Stock

$202,000$

Retained Earnings

$637,000$

During the year, the following transactions occurred.

Feb. $1$ Declared a $$3$ cash dividend per share to stockholders of record on February $15,$ payable March $1$

Mar. $1$ Paid the dividend declared in February.

Apr. $1$ Announced a $2-$for$-1$ stock split. Prior to the split, the market price per share was $$35.$

July $1$ Declared a $10\%$ stock dividend to stockholders of record on July $15,$ distributable July $31.$ On July $1,$ the market price of the stock was $$15$ per share.

$31$ Issued the shares for the stock dividend.

Dec $1$ Declared a $$0\mathrm{.}30$ per share dividend to stockholders of record on December $15,$ payable January $5,2023.$

$31$ Determined that net income for the year was $$361,500.$

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

Enter the beginning balances, and post the entries to the stockholders' equity accounts. $($Note: Open additional stockholders' equity accounts as needed.$)($Post entries in the order of journal entries presented in the previous part.$)$

Prepare a stockholders' equity section at December $31.($Enter account name only and do not provide descriptive information$)$

BLOSSOM CORPORATION

Balance Sheet $($Partial$)$

For the Year Ended December $31,2022$

Stockholders' Equity

Stockholders' Equity

Common Stack

$

Paid$-$in Capital

Paid$-$in Capital in Excess of Par$-$Common Stock

Retained Earnings