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Please Show work. Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts. Common Stock ($10par value,86,600shares issued and outstanding) $866,000 Paid-in

Please Show work.

Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts.
Common Stock ($10par value,86,600shares issued and outstanding) $866,000
Paid-in Capital in Excess of Par Value 508,300
Retained Earnings 612,800
During the year, the following transactions occurred.
Jan. 15 Declared a $0.60cash dividend per share to stockholders of record on January 31, payable February 15.
Feb.15 Paid the dividend declared in January.
Apr.15 Declared a10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $13per share.
May15 Issued the shares for the stock dividend.
Dec.1 Declared a $0.60per share cash dividend to stockholders of record on December 15, payable January 10, 2015.
Dec.31 Determined that net income for the year was $427,800.
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Journalize the transactions. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date Account Titles and Explanation Debit Credit
(To close net income)
(To close stock dividends)
(To close cash dividends)
Show List of Accounts
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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 part)
Common Stock
Retained Earnings
Paid-in Capital in Excess of Par Value
Cash Dividends
Common Stock Dividends Distributable
Stock Dividends
Show List of Accounts
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Prepare the stockholders equity section of the balance sheet at December 31.
EVERETT CORPORATION Partial Balance Sheet December 31, 2014
$
$
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Calculate the payout ratio and return on common stockholders equity. (Round answers to 1 decimal place, e.g. 12.5%.)
Payout ratio %
Return on common stockholders equity %
Show List of Accounts
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