Please fix and complete the transactions and closing entries for 2021.

On December 31, 2020, Oriole Corporation had the following shareholders' equity accounts: ORIOLE CORPORATION Balance Sheet (partial) December 31, 2020 Shareholders' equity Common shares (unlimited number of shares authorized, 86,000 issued) $1,187,000 Retained earnings 560,000 Total shareholders' equity $1,747,000 During the year, the following transactions occurred: Jan. 15 Declared a $1 per share cash dividend to shareholders of record on January 31, payable February 15. July 1 Announced a 2-for-1 stock split. The market price per share on the date of the announcement was $12. Dec. 15 Declared a 10% stock dividend to shareholders of record on December 30, distributable on January 15. On December 15, the market price of each share was $6; on December 30, $9; and on January 15, $8. 31 Determined that profit before income tax for the year was $411,000. The company has a 35% income tax rate. Date Debit Account Titles and Explanation Cash Dividends - Common Jan. 15 86.000 Dividends Payable (To record declaration of cash dividend.) No Entry Jan. 31 V No Entry Feb. 15 Dividends Payable Cash (To record payment of dividend.) July 1 Memo: 2-for-1 stock split increases the number of shares to July 1 No Entry No Entry (To record declaration of stock dividend.) Retained Earnings Dec. 15 V Common Shares Dec. 30 No Entry No Entry (To close Income Summary.) Income Summary Dec. 31 V (To close dividends to retained earnings.) Journalize the transactions and closing entries for 2021. (Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem.) Debit Credit Titles and Explanation vidends - Common 86.000 86,000 2nds Payable declaration of cash dividend.) y ds Payable 86,000 86,000 d payment of dividend.) -for-1 stock split increases the number of shares to y d declaration of dend.) d Earnings n Shares y Income Summary.) Summary 411,000 dividends to earnings.)