Problem 11-7A (Part Level Submission) On January 1, 2019, Oriole Company had the following stockholders' equity accounts. Common Stock ($14 par value, 81,300 shares issued and outstanding) $1,138,200 Paid-in Capital in Excess of Par Value-Common Stock Retained Earnings 220,000 596,000 During the year, the following transactions occurred Jan. 15 Declared a $1.00 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 5% 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 1Announced a 2-for-1 stock split. The market price per share prior to the announcement was $14. (The new par value is $7.) Dec. 1 Declared a $0.40 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 $280,000. ournalize the transactions and the closing entries for net income and dividends. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the 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.)