Problem 11-02A (Part Level Submission) The stockholders' equity accounts of Bramble Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 14,000 shares authorized) Common Stock ($4 stated value, 840,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (14,000 common shares) $840,000 2,800,000 42,000 1,344,000 1,926,400 112,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Nov. 1 Dec. 1 Dec. 31 Issued 14,000 shares of common stock for $84,000. Purchased 2,800 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. Determined that net income for the year was $785,000. Paid the dividend declared on December 1. (a) Your answer is partially correct. Try again. Journalize 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. Round answers to O decimal places, e.g. 5,275.) Debit Credit Date Feb. 1 Account Titles and Explanation cash 84000 I Common Stock T 56000 Paid-in Capital in Excess of Par Value-Common St 28000 Mar. 20 Treasury Stock Cash 2800 Dividends Payable 58800 Common Stock Dividends Distributable 58800 Nov. 1 Dividends Payable i Cash Cash Dividends 58800 Dec. 1 Cash Dividends Dividends Payable 89600 I Cash 58800 Dec. 1 Cash Dividends 89600 Dividends Payable 89600 Dec. 31 Income Summary 785000 85000 | Retained Earnings (To record net income) Dec. 31 A Retained Earnings 3400 I Cash Dividends JU 1 148400 148400 (To close cash dividends) Dec. 31 TDividends Payable 1 89600 89600 9 cash Cash U 89600 89600 (To record payment of cash dividends payable) Click if you would like to Show Work for this question: Open Show Work