On January 1, 2020, Waterway SpA had the following eg ty accounts. 1.225.000 Share Capital--Ordinary (25 par value, 49,000 shares issued and outstanding) Share Premium-Ordinary Retained Earnings 225,000 665,000 During the year, the following transactions occurred, Feb. 1 Mar. 1 Apr 1 July Declared a 1 cash dividend per share to shareholders of record on February 15, payable March 1. Paid the dividend declared in February Announced a 5-for-1 share split. Prior to the split, the market price per share was 36. Declared a 10% share dividend to shareholders of record on July 15, distributable July 31. On July 1, the market price was 67 per share. Issued the shares for the share dividend. Declared a 0.40 per share dividend to shareholders of record on December 15, payable January 5, 2021. Determined that net income for the year was 350,000 31 Dec. 1 31 Question TU O TU 71 Date Account Titles and Explanation Debit Credit Febit : Cash Dividends 49000 Dividends Payable 49000 M. 1 | Ape July July 31