Problem 11-8A (Part Level Submission) On January 1, 2017, Bridgeport Corp. had these stockholders' equity accounts. Common Stock ($10 par value, 67,000 shares issued and outstanding) Paid-in Capital in Excess of Par Value Retained Earnings $670,000 516,500 665,000 During the year, the following transactions occurred Declared a $0.60 cash dividend per share to stockholders of record on January 31, payable February 15. Paid the dividend declared in January. 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 $14 per share. Issued the shares for the stock dividend. Declared a $0.50 per share cash dividend to stockholders of record on December 15, payable January 10, 2018. Determined that net income for the year was $385,000. Jan. 15 Feb. 15 Apr. 15 May 15 Dec. 1 Dec. 31 Your answer is correct Prepare the stockholders' equity section of the balance sheet at December 31. BRIDGEPORT CORP Partial Balance Sheet December 31, 2017 Stockholders' Equity Paid-in Capital Capital Stock Common Stock 737000 Additional Paid-in Capital 543300 Paid-in Capital in Excess of Par Value-Common St Total Paid-in Capital Retained Earnings 1280300 879150 Total Stockholders' Equity 2159450 Click if you would like to Show Work for this question: Open Show Work Calculate the payout ratio and return on common stockholders' equity. (Round answers to 1 Payout ratio Return on common stockholders' equity Click if you would like to Show Work for this question Open Show Work 0 0