Problem 11-04A a-c (Video) (Part Level Submission) On January 1, 2020, Oriole Company had the following stockholders' equity accounts. Common Stock ($26 par value, 58,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,508,000 199,000 553,000 During the year, the following transactions occurred. Feb. 1 Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Pald the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $37. 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. 31 Issued the shares for the stock dividend. Dec. 1 Declared a $0.40 per share dividend to stockholders of record on December 15, payable January 5, 2021 Determined that net income for the year was $396,500. your answer is partially correct. Try again. Journalize the transactions and the closing entries for net income and dividends. (Credit account titles are automatically indented when amount is entered. required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Feb. 1 Cash Dividends 116000 Date Account Titles and Explanation 116000 Feb. 1 Cash Dividends 116000 Dividends Payable 116000 Mar. 17 Dividends Payable 116000 Cash Apr. 1 No Entry S No Entry July 1 7 Stock Dividends 87000 Common Stock Dividends Distributable 58000 Paid-in Capital in Excess of Par-Common Stock 29000 July 31 Common Stock Dividends Distributable 58000 S Common Stock 58000 > Dec. 17 Cash Dividends 81200 atid S 81200 Dec. 1 V Cash Dividends x 81200 Dividends Payable 396500 Dec. 31 Income Summary > 396500 Retained Earnings (To close net income) Dec. 31 Retained Earnings 87000 DO Stock Dividends 87000 (To dose stock dividends) Dec. 31 Retained Earnings 139200 Cash Dividends 1392001 (To cose cash dividends)