Please answer problem #10, SHOWING ALL WORK ACCORDINGLY. Thank you!

On January 1, 2022 Ayayal Corp. had these stockholders' equity accounts. $650,000 Common Stock ($10 par value, 65,000 shares issued and outstanding) Paid-in Capital in Excess of Par Value 480,000 Retained Earnings 600,000 During the year, the following transactions occurred. Jan. 15 Declared a $0.40 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Paid the dividend declared in January Apr. 15 May 15 Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $12 per share. Issued the shares for the stock dividend. Declared a $0.50 per share cash dividend to stockholders of record on December 15, payable January 10, 2023. Determined that net income for the year was $350,000. Dec. 1 Dec 31 Joumalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Jan 15 Cash Dividends 26.000 26.000 Dividends Payable Feb. 15 Dividends Payable 26,000 26.000 Cash Apr. 15 Stock Dividends 78,000 65.000 Common Stock Dividends Distributable 12.000 Pald-in Capital in Excess of Par Value-Common Stock 65.000 May 15 Common Stock Dividends Distributable Common Stock 65.000 35,750 Dec 1 Cash Dividends 35,750 Dividends Payable 350.000 Dec 31 Income Summary 950.000 Retained Earnings (To close net income) 78,000 Dec 31 Retained Earnings 78,000 Stock Dividends (To close stock dividends) 61750 Dec 31 Retained Earnings 81.750 Cash Dividends Enter the beginning balances and post the entries to the stockholders equity T-accounts (Post entries in the order of journal entries posted in the previous port. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount) Common Stock Retained Earnings Paid-in Capital in Excess of Par Value Cash Dividends