On January 1, 2022, Sandhill 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 $38. July 1 Declared a 10% stock dividend to stockholders of record on July 15 , distributable July 31 . On July 1 , the market price of the stock was $15 per share. 31 Issued the shares for the stock dividend. Dec. 1 Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2023. 31 Determined that net income for the year was $318,500. (To close cash dividends) \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{6}{|c|}{ Common Stock } \\ \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline & Balance & & & & \\ \hline & & & & & \\ \hline \end{tabular} Common Stock Dividends Distributable Date Explanation Ref Debit Credit Balance Paid-in Capital in Excess of Par-Common Stodk \begin{tabular}{|c|c|c|c|c|c|} \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hlinev & Balance & & & & \\ \hline & & & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline Date & Explanation & Ref & Debit & Credit & Balance \\ \hline & Balance & & & & \\ \hline & Net income & & & & \\ \hline & Stock dividend & & & & \\ \hline & Cash dividend & & & & \\ \hline \end{tabular} Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide descriptive information.)