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Brice Company completed the following transactions in Year 1, the first year of operation: 1. Issued 36,000 shares of no-par common stock for $15 per share. 2. Issued 9,800 shares of $25 par, 5 percent, preferred stock for $25 per share. 3. Paid a cash dividend of $12,250 to preferred shareholders. 4. Issued a 10 percent stock dividend on no-par common stock. The market value at the dividend declaration date was $25 per share. 5. Later that year, issued a 2 -for-1 split on the shares of outstanding common stock. The market price of the stock at that time was $70 per share. 6. Produced $200,000 of cash revenues and incurred $95,000 of cash operating expenses. 7. Closed the revenue, expense, and dividend accounts to retained earnings. lournal entry worksheet A B C Closed the revenue, expense, and dividend accounts to retained earnings. Record the transaction. Note: Enter debits before credits. \begin{tabular}{|l|r|r|r|} \hline Beginning Balance & & & \\ \hline 1. & 540,000 & 12,250 & 3. \\ \hline 2. & 245,000 & 95,000 & 6b. \\ \hline 6a. & 200,000 & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|} \hline Beginning Balance & & & \\ \hline 4. & 90,000 & 200,000 & 7. \\ \hline 7. & 95,000 & & \\ \hline 7. & 12,250 & & \\ \hline & & & \\ \hline Ending Balance & & & 2,750 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|} \hline & & \multicolumn{3}{|c|}{ Dividends } \\ \hline Beginning Balance & & & \\ \hline 3. & 12,250 & 12,250 & 7. \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|r|l|l|} \hline \multicolumn{3}{|c|}{ Service Revenue } \\ \hline Beginning Balance & & & \\ \hline & 200,000 & 200,000 & 6a. \\ \hline & & & \\ \hline & & & \\ \hline Ending Balance & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Preferred Stock } \\ \hline & & & \\ \hline & & 245,000 & 2. \\ \hline & & & \\ \hline Ending Balance & & 245,000 & \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|} \hline \multicolumn{3}{|c|}{ Common Stock } \\ \hline Beginning Balance & & & \\ \hline & & 540,000 & 1 \\ \hline & & 90,000 & 4. \\ \hline & & & \\ \hline & & 630,000 & \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|} \hline \multicolumn{3}{|c|}{ Operating Expenses. } \\ \hline Beginning Balance & & & \\ \hline 6b. & 95,000 & 95,000 & 7. \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}