Part A - Journal entries CED Corporation reported stockholders' equity on December 31, 2021 as follows: Common stock, $5 par value, 1,000,000 shares authorized, 300,000 shares issued $1,500,000 Additional paid-in capital, common stock 500,000 Retained earnings 2,000,000 The following selected transactions occurred during 2021: Feb. 14 Mar. 14 June 1 The board of directors declared a 5% stock dividend to stockholders of record on March 1, payable March 14. The stock was selling for $9 per share on March 1. Paid the stock dividend. A cash dividend of $0.20 per share was declared by the board of directors to stockholders of record on June 20, payable June 30. Paid the cash dividend. Borrowed $45,000 cash from a local bank with a 60-day, 9% note payable Record the accrued interest expense. June 30 Dec. 1 Dec.31 During 2021, CED Corporation earned net income of $900,000. Required: 1. Prepare the journal entries to record the above transactions. (10 marks) 2. What is the amount of retained earnings as of December 31, 2021? (4 marks)