On January 1, 2019, Wildhorse Co. had the following stockholders equity accounts. Common Stock ($20 par value, 57,000 shares issued and outstanding) $1,140,000

Paid-in Capital in Excess of ParCommon Stock 194,000 Retained Earnings 593,000

During the year, the following transactions occurred. Feb. 1 Declared a $1 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 $39. 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 $14 per share. 31 Issued the shares for the stock dividend. Dec. 1 Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2020.

Dec 31. Determined the net income for the year was 319,500.

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Journalize the transactions and the closing entries for net income and dividends. (Credit account titles are Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Feb. 1 Mar. 1 Apr. 1 uly 1 July 31 Dec. 1 Dec. 31 Y To dose net income) To dose stock dividends) To dose cash dividends) Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Use T-accounts. Common Stock Retained Earning Paid-in Capital in Excess of Par Value-Common Common Stock Dividends Distributable Cash Dividends Stock Dividends Prepare a stockholders equity section at December 31. (Enter account name only and do not pra Wildhorse Co. Balance Sheet (Partial) Click if you would like to Show Work for this question: Open Show Work