On January 1, 2022, Sheridan Corporation had the following stockholders' equity accounts. Common Stock ($22 par value, 53,500 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. 1 July 1 31 Dec. 1 31 $1,177,000 191,000 631,000 Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February. Announced a 2-for-1 stock split. Prior to the split, the market price per share was $38. 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. Issued the shares for the stock dividend. Declared a $0.30 per share dividend to stockholders of record on December 15, payable January 5, 2023. Determined that net income for the year was $367,500.

On January 1, 2022, Sheridan 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 \\$0.30 per share dividend to stockholders of record on December 15. payable January 5, 2023. 31 Determined that net income for the year was \\( \\$ 367,500 \\). (To close net income) Derca1 : (To close stock dividends) Dec n: 17655 (To dose cash divdends) Retained Eamings: 5 3