On January 1, 2022, Martinez Corp. had these stockholders' equity accounts. Common Stock ($10 par value, 69,000 shares issued and outstanding) Paid-in Capital in Excess of Par Value Retained Earnings $690,000 484,000 640,000 During the year, the following transactions occurred. Jan. 15 Declared a $0.40 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Paid the dividend declared in January. Apr. 15 May 15 Dec. 1 Dec. 31 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 $14 per share. Issued the shares for the stock dividend. Declared a $0.70 per share cash dividend to stockholders of record on December 15, payable January 10, 2023. Determined that net income for the year was $358,000. 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 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.) Date Account Titles and Explanation Jan. 15 Cash Dividends Dividends Payable Feb. 15: Dividends Payable Cash Apr. 15 Stock Dividends May 15: Common Stock Dividends Distributable. Paid-in Capital in Excess of Par Value-Common Stock Common Stock Dividends Distributable Common Stock Debit Credit 27600 27600 27600 27600 May 15: Common Stock Dividends Distributable Common Stock Dec. 1 : Cash Dividends Dividends Payable Dec. 31: Income Summary Retained Earnings (To close net income) Dec. 31: Retained Earnings Stock Dividends (To close stock dividends) Dec. 31 Cash Dividends Dividends Payable To close cach dividende