On January 1, 2022, Blossom Company had the following stockholders' equity accounts. During the year, the following transactions occurred. Feb. 1 Declared a $3 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 $35. 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 $0.40 per share dividend to stockholders of record on December 15, payable January 5, 2023. 31 Determined that net income for the year was $325,000. Date Account Titles and Explanation Debit Credit Cash Dividends \begin{tabular}{|r|} \hline 54100 \\ \hline \end{tabular} Dividends Payable Mar. 1 Dividends Payable \begin{tabular}{|r|} \hline 54100 \\ \hline \end{tabular} Cash Apr. 1 No Entry No Entry 182000 Common Stock Dividends Distributable Paid-in Capital in Excess of Par-Common Stock Common Stock Dividends Distributable 108200 Common Stock \begin{tabular}{|r||} \hline 57200 \\ \hline \end{tabular} Dividends Payable Dec. 31 Income Summary 325000 Retained Earnings (To close net income) Dec. 31 Retained Earnings 182000 Stock Dividends (To close stock dividends) Dec. 31 Retained Earnings Cash Dividends (To close cash dividends)