The stockholders' equity accounts of Cheyenne Corp. on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 6,500 shares authorized) $390,000 Common Stock ($4 stated value, 390,000 shares authorized) 1,300,000 Paid-in Capital in Excess of Par Value-Preferred Stock 19,500 Pald-In Capital in Excess of Stated Value-Common Stock 624,000 Retained Earnings 894,400 Treasury Stock (6,500 common shares) 52,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equlty. Feb. 1 Issued 6,500 shares of common stock for $39,000. Mar. 20 Purchased 1,300 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, 2017 Dec. 31 Determined that net income for the year was $365,000. Paid the dividend declared on December 1. Journalize the transactions. (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 o decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Feb. 1 . Cash 39,000 Common Stock 26000 Paid-in Capital in Excess of Par Value-Com 13000 Mar.20 $ Treasury Stock 9100 Cash 9100 Oct. 1 . Cash Dividends 27300 Dividends Payable 27300 Nov. 1 . Dividends Payable 27300 27300 Cash Cash Dividends Dec. 1 Dividends Payable Dec. 31 Income Summary Retained Earnings (To record net income) Dec. 31 Retained Earnings Cash Dividends (To close cash dividends) Dividends Payable Dec. 31. Cash (To record payment of cash dividends payable) 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.) Preferred Stock Common Stock Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Cash Dividends Treasury Stock Prepare the stockholders' equity section of the balance sheet at December 31, 2017 CHEYENNE CORP. Partial Balance Sheet eTextbook and Media List of Accounts Calculate the payout ratio, earnings per share, and return on common stockholders' equity (Round earning per share to 2 decimal places, e.g. $2.66 and all other answers to 1 decimal place. 17.5%.) Payout ratio Earnings per share Return on common stockholders' equity e Textbook and Media List of Accounts