The stockholders' equity accounts of Coronado Industries on January 1, 2022, were as follows. Preferred Stock (8%, $100 par noncumulative, 5,000 shares authorized) Common Stock ($10 stated value, 800,000 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 (8,400 common shares) $495,000 1,550,000 65,000 910,000 760,000 67,200 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Mar 1 22 June Sept. Oct. 1 1 Issued 6,900 shares of common stock for $90 per share. Purchased 1,600 additional shares of common treasury stock at $11 per share. Declared a 8% cash dividend on preferred stock, payable October 1. Paid the dividend declared on September 1. Declared a $0.80 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. Determined that net income for the year was $128,000. Paid the dividend declared on December 1. Dec. 1 31 Journalize the transactions for the dates shown. Include entries to close net income and dividends to Retained Earnings. (Record journal entries in the order presented in the problem. 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.) Common Stock 69000 Paid-in Capital in Excess of Stated Value-Common Stock 552000 June 224 Treasury Stock 17600 Cash 17600 Sept. 1 Cash Dividends 39600 Dividends Payable 39600 Oct. 1 Dividends Payable 39600 Cash 39600 Dec. 1 Cash Dividends 121520 Dividends Payable 121520 Dec. 31 Income Summary 128000 Retained Earnings 128000 (To paid the dividend declared on December 1) Dec. 31 Income Summary 121520 Retained Earnings 121520 (To close net income) Dec. 31 Retained Earnings 161120 Cash Dividends 161120