On January 1, 2022. Sunland Corporation had the following stockholders' equity accounts $ 1.560.000 Common Stock ( 24 par value 65,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings 191.000 591.000 During the year the following transactions occurred Feb. Mar 1 Apr 1 Dedared as 1 cash dividend pershare to stockholders of record on February 15. payable March 1 Paid the dividend deared in February Announced a 2-for-1 stock split. Prior to the split, the market price per share was 536 Dedared a 109 stock dividend to stod holders of record on July 15. distributable July 31. On July 1, the market price of the stock was $ 14 per share! July 31 Issued the shares for the stock dividend Dec 1 Diecare o 30 pershare dividend to stockholders of record on December 15. payable January 5, 2023 Determined that he income for the year was $28.000 31 Journalize the transactions and the closing entries for net income and dividends. Credit account titles are automatically indented when amount is entered Do not indent manually. If reentry is required seled "No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem Debit Credit Date Account Titles and Explanation Feb 1 V Max 1 > AD D: V [Todos Income) Te done to her Todos Enter the beginning balances, and post the entries to the stockholders' couity accounts. Note:Open additional stockholders equity accounts as needed to be in the order of journal entries presented in the previous part) Common Stock Credit Date Debit Balance Explanation Ref V Balance Common Stock Dividends Distributable Date Explanation Ref Debit Credit Balance Pald-in Capital in Excess of Par-Common Stock Date Explanation Ref Debit Credit Balance V Balance Retained Earnings Date Explanation Rel Debit Credit Balance Balance V V income Stock divided V Gas did Cashieds Date Explanation Ref Debit Credit Balance Sendi Dat Explanation of Debit Credit Balance Prepare a stockholders equity section at December 31. (Enter account name only and do not provide descriptive information SUNLAND CORPORATION Balance Sheet (Partiall) FREE $ SER EES S