Practice Problem 1 (Part Level Submission) On January 1, 2020, Sheridan Corporation had the following stockholders' equity accounts. Common Stock ($22 par value, 53,500 shares issued and outstanding) $1,177,000 Paid-in Capital in Excess of Par-Common Stock 191,000 Retained Earnings 631,000 During the year, the following transactions occurred. Feb. 1 Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 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 $38. July 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 $0.30 per share dividend to stockholders of record on December 15, payable January 5, 2021. Mar. 1 31 Dec. 1 31 Determined that net income for the year was $367,500. (al (c) Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide descriptive information.) SHERIDAN CORPORATION Balance Sheet (Partial) $ Click if you would like to Show Work for this question: Open Show Work