Problem 14-01A a-c (Video) On January 1, 2020, Wildhorse Corporation had the following stockholders' equity accounts. Common Sitock (522 par value, 54,000 shares issued and outsta) $1 19,00 $1,188,000 199,000 626,000 Paid-in Capital in Excess of Par-Common Stock Retained Earnings During the year, the following transactions occurred Feb. 1 Declared a $3 cash dividend per share to stockholders of record on February 15, Mar. 1 Paid the dividend declared in February Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the market price per share was July 1 Declared a 10% stock dividend to stockholders of record on July 15, distributable July payable March 1. $35. 31. On July 1, the market price of the stock was $15 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 $321,500. 31 Dec. 1 31 Account Titles and Explanation Debit Credit Date To close net income) (To close stock dividends) (To close cash dividends) Common Stock Debit Date Explanation Retf Credit Balance Balance Common Stock Dividends Distributable ate xplanation Ref Debit Credit Balance Paid-in Capital in Excess of Par-Common Stock Debit Date Explanation Retf Credit Balance Balance Retained Earnings ate xplanation Ref Debit Credit Balance Balance Net income Stock dividend Cash dividend Cash Dividends Explanation RefDebit Credit Balance Date 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.) WILDHORSE CORPORATION Balance Sheet (Partial) Click if you would like to Show Work for this question: Open Show Work