| | Your answer is partially correct. Try again. | | | Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when 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.) Enter the beginning balances and post the entries to the stockholders equity T-accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Prepare the stockholders equity section of the balance sheet at December 31. Calculate the payout ratio and return on common stockholders equity. (Round answers to 1 decimal place, e.g. 12.5%.) |