On January 1, 2014, Everett Corporation had these stockholders' equity accounts. Common Stock ($10 par value, 70,000 shares issued and outstanding) $700,000 Paid-in Capital in Excess of Par Value 500,000 Retained Earnings 620,000 During the year, the following transactions occurred. Declared a $0.50 cash dividend per share to stockholders of record on January 31, payable February 15. Paid the dividend declared in January. 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 $14 per share. Issued the shares for the stock dividend. Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10, 2015. Determined that net income for the year was $400,000. Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) Enter the beginning balances and post the entries to the stockholders' equity T Accounts Prepare the stockholders equity section of the balance sheet at December 31. Calculate the payout ratio and return on common stockholders' equity