On January 1, 2020, Agassi Corporation had the following stockholders' equity accounts. Common Stock ($10 par value. 55,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $550.000 490,000 601,000 During 2020, the following transactions occurred. Jan. 15 Apr. 15 May 15 Nov. 15 Dec. 31 Declared and paid a $1.05 cash dividend per share to stockholders. Declared and paid a 10% stock dividend. The market price of the stock was $13 per share. Reacquired 1.800 common shares at a market price of $16 per share. Reissued 900 shares held in treasury at a price of $18 per share. Determined that net income for the year was $364.000. (a 1) Journalize the above transactions. (Include entries to close net income to Retained Earnings. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) ate Account Titles and Explanation Debit Credit Bramble Shoes Foot Inc. is involved in litigation regarding a faulty product sold in a prior year. The company has consulted with its attorney and determined that it is possible that they may lose the case. The attorneys estimated that there is a 45% chance of losing. If this is the case, their attorney estimated that the amount of any payment would be $812000. What is the required journal entry as a result of this litigation? Debit Litigation Expense for $365400 and credit Litigation Liability for $365400. No journal entry is required. Debit Litigation Expense for $446600 and credit Litigation Liability for $446600. Debit Litigation Expense for $812000 and credit Litigation liability for $812000