On January 1, 2017, Geffrey 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 ParCommon 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 $0.30 per share dividend to stockholders of record on December 15, payable January 5, 2018.
31		Determined that net income for the year was $361,500.

(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 account. (Note: Open additional stockholders equity accounts as needed.)

(c) Prepare a stockholders' equity section at December 31.