On January 1, 2017, Pina Colada Corp. had these stockholders equity accounts.

Common Stock ($ 10 par value, 66,000 shares issued and outstanding)

$ 660,000

Paid-in Capital in Excess of Par Value 512,500

Retained Earnings 615,000

During the year, the following transactions occurred.

Jan 15 Declared a $ 0.40 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.

Dec 1 Declared a $ 0.50 per share cash dividend to stockholders of record on December 15, payable January 10, 2018.

Dec 31 Determined that net income for the year was $ 449,000

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 O for the amounts.,) Date Account Titles and Explanation Debit Credit