the stockholders equity accounts for Flounder's Corp. - need help with ratios!

courses/193308/assignments/698227?module_item_id2254066 View Policies Current Attempt in Progress The stockholders' equity accounts of Flounder Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 7,500 shares authorized) Common Stock ($4 stated value, 450,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (7,500 common shares) $450,000 1,500,000 22,500 720,000 1,032,000 60,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders equity. Feb. 1 Issued 7,500 shares of common stock for $45,000. Mar. 20 Purchased 1,500 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15, Dec. 31 Determined that net income for the year was $430,000. Paid the dividend declared on Deceml Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when 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. Round answers to decimal places, eg. 5,275) Date Account Titles and Explanation Debit Feb. 1 Cash 45000 Common Stock MacBook Pro Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to O decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Feb. 1 # Cash 45000 Common Stock Paid-in Capital in Exce Mar. 20 Treasury Stock 10500 Cash Oct. 1 Cash Dividends 31500 Dividends Payable Nov. 14 Dividends Payable 31500 Cash Dec. 1 Cash Dividends 225000 Dividends Payable Dec. 31 Income Summary 430000 Retained Earnings MacBook Pro COUSTISSUEssignmentsUz module item ide2254066 Enter the beginning balances in the accounts and post the journal entries to the stockholders equity accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Preferred Stock 1/1 Bal. 450000 12/31 Bal. 450000 Common Stock 1500000 30000 12/31 Bal.. 1530000 Paid-in Capital in Excess of Par Value-Preferred Stock 1/1 Bal. 22500 12/31 Bal.: 22500 Paid-in Capital in Excess of Stated Value-Common Stock 1/1 Bal. 720000 15000 12/31 Bal. 735000 Retained Earnings MacBook Pro FLOUNDER CORP. Partial Balance Sheet December 31, 2022 Stockholders' Equity Pald-in Capital Capital Stock Common Stock 1530000 Preferred Stock 450000 Total Capital Stock Additional Paid-in Capital Paid-in Capital in Excess of Stated Value-Common Stock 735000 Paid-in Capital in Excess of Par Value-Preferred Stock 22500 Total Additional Paid-in Capital Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings Less : Treasury Stock MacBook Pro Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note: Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round answers to 2 decimal places, e.g 17.50%.). Payout ratio 52.33 % Earnings per share 89.30 Return on common stockholders' equity List of Accounts Save for Later Last saved 9 minutes ago. Attempts: 0 of 2 used Submit Answer Your grade has been recorded in the Gradebook. Wed, Apr 22, 2020, 4:35:35 PM (America/Chicago -05:00)