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Problem 11-02A (Part Level Submission) The stockholders' equity accounts of Concord Corporation on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative,

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Problem 11-02A (Part Level Submission) The stockholders' equity accounts of Concord Corporation on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 7.000 shares authorized) $420,000 Common Stock (54 stated value, 420,000 shares authorized) 1,400,000 Paid-in Capital in Excess of Par Value--Preferred Stock 21,000 Paid in Capital in Excess of Stated Value Common Stock 672,000 Retained Earnings Treasury Stock (7,000 common shares) 06),200 During 2022, the corporation had the following transactions and events pertaining to its stockholders Feb 1 Issued 7,000 shares of common stock for $42.000 Mar. 20 Purchased 1.400 additional shares of common treasury stack $ per share Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1 Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022 Dec. 31 Determined that net income for the year was $390,000. Pald the dividend cedared on December 1 Journalize the transactions. Include entries to close net income and dividends to Retained Eamings.) (Record entries in the order displayed in the problem statement Credit account titles are automatically indented when amount is entered. Do not indent manually. Ir no entry is required, select "No Entry" for the account wities and enter for the amounts. Round answers to O decimal places g. 5,275.) Date Account Tities and Explanation Journace the transactions. (Indude entries to close net income and dividends to retained tamnings.) (Record entries in the order displayed in the problem statement Credit account titles are automatically indented when amount is entered. Do not indent manually. It meantry Ingred, select " Entry for the account s and enter for the amounts. Round answers to decimal place . 5.275.) Date Account Tities and Explanation

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