The stockholders' equity accounts of Bramble Corp. on January 1, 2022, were as follows. During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 4,500 shares of common stock for $27,000. Mar. 20 Purchased 900 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, payable December 31,21 Dec. 31 Determined that net income for the year was $254,000. Paid the dividend declared on December 1. Date Account Titles and Explanation Debit Credit Common Stock 18000 Paid-in Capital in Excess of Stated Value-Common Stock 9000 Treasury Stock 6300 Cash 6300 \begin{tabular}{|l|l|} \hline Oct. 1 & Cash Dividends \\ & Dividends Payable \end{tabular} 18,900 18,900 Nov. 1 Dividends Payable 18,900 Cash 18,900 Dec. 1V Cash Dividends Dividends Payable Dec. 31 Income Summary (To record net income) Dec. 31 Retained Earnings Cash Dividends (To close cash dividends) Dec. 31 Dividends Payable