On January 1, 2022, Cullumber Corporation 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 $39. July 1 Declared a 15% stock dividend to stockholders of record on July 15 , distributable July 31. On july 1, the market price of the stock was 514 per share. 31 Issued the shares for the stock dividend. Dec. 1 Declared a S0.60 per share dividend to stockhotders of record on December 15, payable January 5.2023. 31 Determined that net income for the year was $332,500. Dec. 1 Declared a $0.60 per share dividend to stockholders of record on December 15 , payable lanuary 5,2023. 31 Determined that net income for the year was $332,500. (a) Your answer is partially correct. Journalize the transactions and the closing entries for het 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.) no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Question 1 of 1 Retained Earnings \begin{tabular}{|r|} \hline 123,900 \\ \hline \end{tabular} Common Stock Dividends Distributable Paid-in Capital in Excess of Par-Common Stock 88,500 Common Stock Dividends Distributable Common Stock Retained Earnings 35,400 Dividends Payable Income Summary Retained Earnings (To dose net income) uestion 1 of 1 Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note: Open additional stockholders' equity accounts as needed.) order of journal entries presented in the previous part.) Paid-in Capital in Excess of Par-Common Stock Date Explanation Ref Debit Credit Balance Balance Retained Earnings Date Explanation Ref Debit Credit Balance Balance Net income Stock dividend Cash dividend It o Type here to search Question 1 of 1 Stock dividend Cash dividend Cash Dividends Date Explanation Ref Debit Credit Balance Stodk Dividends Date Explanation Ref Debit Credit Balance Stodk Dividends Date Explanation Ref Debit Bredit Bance eTextbook and Media Assistanc List of Accounts Attempts: 0 of 5 used Type here to search 0 Question 1 of 1 (c) Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide descriptive information.) CULLUMBER CORPORATION Balance Sheet (Partial) December 31,2022 $ Question 1 of 1 $ $ eTextbook ang1Media List of Accounts