On January 1, 2022, Wildhorse Corporation had the following stockholders' equity accounts. Common Stock ($22 par value, 54,000 shares issued and outstanding) $1,188,000 Paid-in Capital in Excess of Par-Common Stock Retained Earnings During the year, the following transactions occurred. 199,000 626,000 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 $35. July 1 31 Dec. 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. Issued the shares for the stock dividend. 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 $321,500. Date Account Titles and Explanation Debit Credit (To close net income) (To close stock dividends) (To close cash dividends) Common Stock Date Explanation Ref Debit Credit Balance Balance Common Stock Dividends Distributable Date Explanation Ref Debit Credit Balance Paid-in Capital in Excess of Par-Common Stock Date Explanation Ref Balance Debit Credit Balance Retained Earnings Date Explanation Ref Debit Credit Balance Balance Net income Stock dividend Cash dividend Cash Dividends Date Explanation Ref Debit Credit Balance Stock Dividends Date Explanation Ref Debit Credit Balance Prepare a stockholders' equity section at December 31 (Enter account name only and do not provide descriptive information.) WILDHORSE CORPORATION Balance Sheet (Partial) 13 $