On January 1, 2022, Blue Spruce Corp. had the following stockholders' equity accounts.

Common Stock ($20 par value, 56,600 shares issued and outstanding) $1,132,000

Paid-in Capital in Excess of Par-Common Stock 198,000

Retained Earnings 563,000

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 $39.

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 $15 per share.

31 Issued the shares for the stick 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.

a) Journalize the transactions and the closing entries for net income and dividends.

please record a journal entry to present the problem