On January 1, 2022, Ivanhoe Corporation had the following stockholders' equity accounts. During the year, the following transactions occurred. Feb. 1 Declared as 1 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 $40. 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 $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 $365,500. Dividends Payable Income Summary Retained Earning: (To close net income) 31 Retained Earnings Stock Dividends (To close stock dividends) Retained Earnings Cash Dividends 56120 56120 365500 365500 256200 256200 117120 (To dose cash dividends) Retained Earnings Stock Dividends Date Explanation Ref Debit Credit Balance IVANHOE CORPORATION Balance Sheet (Partial)