Problem 11-7A (Part Level Submission) On January 1, 2019, Marigold Corp. had the following stockholders' equity accounts Common Stock ($10 par value, 84,800 shares issued and outstanding) $848,000 Paid-in Capital in Excess of Par Value-Common Stock 218,000 Retained Earnings 569,000 During the year, the following transactions occurred. Jan. 15 Declared a $1.12 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Paid the dividend declared in January. Apr. 15 Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $16 per share. May 15 Issued the shares for the stock dividend. July 1 Announced a 2-for-1 stock split. The market price per share prior to the announcement was $14. (The new par value is $5.) Dec. 1 Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10, 2020. Dec. 31 Determined that net income for the year was $220,000. Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note: Open additional stockholders' equity journal entries presented in the previous question.) Common Stock Date Explanation Ref. Debit Credit Balance Jan. 1 . Balance Balance v C May 15 - Common Stock Dividends Distributable Date Explanation Ref. Debit Credit Balance Apr. 15 May 15 Paid-in Capital in Excess of Par Value-Common Stock Date Explanation Ref. Debit Credit Balance Jan. 1 Balance Apr. 15 Retained Earnings Date Explanation Ref. Debit Credit Balance Jan. 1 Balance Cash dividends Dec. 31 Dec. 31 Stock dividends Dec. 31 Net income Cash Dividends Date Explanation Ref. Debit Credit Balance Jan. 15 A Dec. 1 - Dec. 31 - Stock Dividends Date Explanation Ref. Debit Credit Balance Apr. 15 - Dec. 31 )