On January 1, 2021, Chen Corporation had the following stockholders equity accounts.

Ordinary Share ($5 par value, 200,000 shares issued and outstanding): $1,000,000

Share PremiumOrdinary: 200,000

Retained Earnings: 840,000

During the year, the following transactions occurred.

Jan 15, Declared a $1 cash dividend per share to stockholders of record on January 31, payable February 15.

Jan 31, Paid the dividend declared in January.

Jun 1, Announced a 5 for 1 share split. Prior to the split the market price per share was $30.

Dec 1, Declared a $0.5 per share cash dividend to stockholders of record on December 15, payable January 5, 2022.

Instructions

1. Journalize the transactions and closing entries for net income & dividends
2. Prepare the stockholders equity section at December 31, 2021.

please be specific