On January 1, 2022, Primo Corporation had the following stockholders' equity accounts. During the year, the following transactions occurred. Jan. 15 Declared a \$1 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 $14 per share. May 15 Issued the shares for the stock dividend. July 1Ann Dec. 1 Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10, 2023. Dec. 31 Determined that net income for the year was $250,000. Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note: Open additional stockholders' equity accounts as needed.) (Post entries in the order of journal entries presented in the previous question.) Stock Dividends Explanation Ref. Debit Credit Balance Common Stock Dividends Distributable Credit Balance