On January 1, 2022, Grouper Corp. had these stockholders' equity accounts. Common Stock ($10 par value, 68,000 shares issued and outstanding Paid-in Capital in Excess of Par Value Retained Earnings $680,000 483,000 630,000 During the year, the following transactions occurred Jan. 15 Declared a $0.50 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Paid the dividend declared in January Apr 15 Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $16 per share. May 15 issued the shares for the stock dividend, Dec. 1 Declared a $0.50 per share cash dividend to stockholders of record on December 15, payable January 10, 2023, Dec 3: Determined that net income for the year was $356,000 Journalize the transactions. (include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statement Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit Journalire the transactions include entries to cose net income and dividends to Retained Earnings Record entries in the order displayed in the problem statement Credit accountries are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account title and enter for the amounts) Date Account Titles and Explanation (To close net income) (To close stock dividends) (To close cash dividends) Common Stock Retained Earnings Paid-in Capital in Excess of Par Value Cash Dividends Cash Dividends Common Stock Dividends Distributable Stock Dividends e Textbook and Media List of Accounts Prepare the stockholders' equity section of the balance sheet at December 31. GROUPER CORP. Partial Balance Sheet List of Accounts Calculate the payout ratio and return on common stockholders' equity. (Round answers to 1 decimal place, eg. 12.5%) Payout ratio R R Return on common stockholders' equity e Textbook and Media List of Accounts Save for Later