On January 1, 2020, Oriole Corporation had the following stockholders' equity accounts. Common Stock ($26 par value, 52,500 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. $1,365,000 191,000 579,000 Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February. Announced a 2-for-1 stock split. Prior to the split, the market price per share was $39. 1 July 1 31 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. Issued the shares for the stock dividend. Dec. 1 Declared a $0.40 per share dividend to stockholders of record on December 15, payable January 5, 2021. 31 Determined that net income for the year was $357,500. (b) Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note: Open additional stockholders' equity accounts as needed.) (Post entries in the order of journal entries presented in the previous part.) Common Stock Date Explanation Ref Debit Jan. 1 Balance July 31 Common Stock Dividends Distributable Date July 1 July 31 Explanation Ref Credit Balance Debit Credit Balance Paid-in Capital in Excess of Par-Common Stock Date Explanation Ref Jan. 1 Balance July 1 Retained Earnings Debit Credit Balance Date Explanation Ref Debit Credit Balance Jan. 1 Balance V Dec. 31+ Net income Dec. 31+ Stock dividend Dec. 31 Cash dividend Cash Dividends Date Explanation Ref Debit Credit Balance Feb. 1 Dec. 1 Dec. 31 Stock Dividends Date July 1 Dec. 31 Explanation Ref Debit Credit Balance