Problem 11-02A (Part Level Submission) The stockholders' equity accounts of Flint Corporation on January 1 2022 were as follows. Preferred Stock (7%, $100 par noncumulative, 9,000 shares authorized Common Stock ($4 stated value, 540,000 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 (9.000 common shares) $540,000 1,800,000 27,000 864,000 1,238,400 72,000 During 2022, the corporation had the following transactions and events pertaining to its stockholdersfequity. Feb. 1 Mar. 20 Oct. Nov. Issued 9,000 shares of common stock for $54,000. Purchased 1,800 additional shares of common treasury stock at $7 per share. Dedared 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, Determined that net income for the year was $505.000. Paid the dividend declared on December 1. Dec Dec. 31 your answer is partially correct. Try again. Journalize the transactions. (Include entnes to close net income and dividends to Retained Earnings.) CRI is required, select No Entry for the count titles and enter o for the amounts Round answ Date Credit Debit Account Titles and Explanation WP Common Stock 36000 Paid-in Capital in Excess of Stated Value-Common 18000 Treasury Stock cash PE Cash Dividends Dividends Payable DPPSDELE Dividends Payable 315 i 225000 (To record net income) (To close cash dividends) (To record payment of cash dividends payable)