On January 1, 2022, Sunland Corporation had the following stockholders equity accounts. During the vear, the following transactions occurred. Feb, 1 Declareda $2 cash dividend per stare to stockholders of record on February 15 , payable March 1. Mar. 1 Paid the dividend dectared in February. Apr. 1 Announced a 2 -for-1t tock split. Prior to the split, the market price per share was $37. 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 I 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 $396,500. Enter the beginning balances, and post the entries to the stockholders equity accounts. (Note Open additional stockholders equity accounts as neededin i ost entries previous port.) Commen Stock Date Explanation Common Stock Dividends Distributable Retained Earnings DateExplanationBalance * Net income ; Stock dividend * Cash dividend eTextbookand Media