On January 1, 2022, Carla Vista Corporation had the following stockholders' equity accounts. Common Stock ($26 par value, 59,500 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings During the year, the following transactions occurred. $1,547,000 191,000 564,000 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 $15 per share. 31 Issued the shares for the stock dividend. Dec. 1 Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2023. 31 Determined that net income for the year was $308,000. (a) Your answer is partially correct. Journalize the transactions and the closing entries for net income and dividends. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) > Account Titles and Explanation > Cash Dividends Dividends Payable Dividends Payable > Cash No Entry > No Entry Stock Dividends K Common Stock Dividends Distributable Paid-in Capital in Excess of Par-Common Stock Common Stock Dividends Distributable Common Stock Cash Dividends Dividends Payable Income Summary Retained Earnings (To close net income) Retained Earnings Stock Dividends (To close stock dividends) Retained Earnings Cash Dividends Debit 178500 178500 178500 154700 59500 308000 178500 308000 Credit 178500 178500 154700 23800 154700 59500 308000 178500 308000 Common Stock Date Explanation Ref Debit Credit Balance Jan. 1 Balance 1547000 July 31 Common Stock Dividends Distributable Date Explanation Ref Debit Credit July 1 July 31 Paid-in Capital in Excess of Par-Common Stock Date Explanation Ref Jan. 1 Balance July 1 Retained Earnings 154700 154700 1701700 154700 Balance 154700 Debit Credit Balance 191000 23800 214800 Date Explanation Ref Debit Credit Balance Jan. 1 Balance 564000 Dec. 31 Net income Dec. 31 Stock dividend Dec. 31 Cash dividend 178500 238000 308000 872000 693500 455500 Cash Dividends Date Explanation Ref Debit Credit Balance Jan. 1 Feb. 1 Dec. 1 178500 59500 178500 238000 Stock Dividends Date Explanation Ref Debit Credit Balance Jan. 1 July 1 178500 178500 Your answer is partially correct. Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide descriptive information.) CARLA VISTA CORPORATION Balance Sheet (Partial) For the Year Ended December 31, 2022 Stockholders' Equity Paid-in Capital Capital Stock Common Stock Paid-in Capital in Excess of Par-Common Stock Total Paid-in Capital Retained Earnings Stockholders' Equity eTextbook and Media List of Accounts Save for Later $ 1701700 214800 1916500 455500 2372000 Attempts: 1 of 5 used Submit