The stockholders' equity accounts of Concord Corporation on January 1,2025, were as follows. During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 issued 7.000 shares of common stock for $42.000. Mar. 20 Purchased 1,400 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 stocikholders of record on December 15, payable December 31.2025. Dec 31 Determined that net income for the year was $390,000. Paid the dividend declaredion December 1. (a) Your answer is partially correct. Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the p. the amounts. List all debit entries before credit entries.) Question 3 of 6 Your answer is partially correct. Joumalize the transactions, (Include entries to close net income and dividends to Fetained Eamines) (Rocord entries in the order dispioyed in the problem statement. Credit account titles the amounts List all debit entries before credit entries) Paid in Capitat in Eecess of Stated Value-Common Stock (To close Income Summary and transfer net income to Retained Eamings) Potained Earnings Cash Dividends (To close Cash Dividends to Retained Earnings)