On January 1, 2014, Chen Corporation had the following stockholders' equity accounts. During the year, the following transactions occurred Jan. 15 Declared a $1 cash dividend per share to stockholders of record on January 31 payable February 15. Feb. 15 Paid the dividend declared in January. Apr. 15 Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $15 per share. May 15 Issued the shares for the stock dividend. July 1 Announced a 2-for-1 stock split. The market price per share prior to the announcement was $17. (The new par value is $2.50.) Dec. 1 Declared a $0.50 per share cash dividend to stockholders of record on December 15, payable January 10, 2015. Dec. 31 Determined that net income for the year was $250,000. Instructions (a) Journalize the transactions and the closing entries for net income and dividends. (b) Enter the beginning balances, and post the entries to the stockholders' equity accounts. (c) Prepare a stockholders' equity section at December 31