Problem 14-01A a-c (Video) On January 1, 2020, Ivanhoe Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 61,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,464,000 191,000 619,000 During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. 1 July 1 31 Dec. 1 31 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February. Announced a 2-for-1 stock split. Prior to the split, the market price per share was $40. Declared a 15% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $14 per share. Issued the shares for the stock dividend. 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 $365,500. Jan. 1 Retained Earnings Dividends Payable Feb. 1 Dividends Payable Cash Mar. 1 No Entry Apr.1 July 17 July 31 Dec. 1 (To close net income) Dec. 31 (To close stock dividends) Jan. 5 (To close cash dividends) Common Stock Date Explanation Ref Debit Credit Balance Balance Common Stock Dividends Distributable Date Explanation Ref Debit Credit Balance Pald-in Capital in Excess of Par-Common Stock Date Explanation Ref Debit Balance Credit Balance Retained Earnings Date Explanation Ref Balance Debit Credit Balance Net income Stock dividend Cash dividend Cash Dividends Date Explanation Ref Debit Credit Balance Stock Dividends Date Explanation Ref Debit Credit Balance Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide descriptive information.) IVANHOE CORPORATION Balance Sheet (Partial)