The stockholders' equity accounts of Flint Corporation on January 1, 2017 were as follows. Preferred Stock (8%, $100 par noncumulative. 4.950 shares authorized) Common Stock ($4 stated value, 321,000 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 (4.950 common shares) $297,000 1,070,000 14,850 513,600 686,500 39,600 During 2017, the corporation had the following transactions and events pertaining to its stockholders equity. Feb. 1 Mar. 20 Oct. 1 1 Nov. Dec Issued 4.950 shares of common stock for $29,700. Purchased 1.400 additional shares of common treasury stock at $7 per share. Declared a 8% cash dividend on preferred stock payable November 1. Paid the dividend declared on October 1. Declared a $0.60 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017 Determined that net income for the year was $276, 100. Paid the dividend declared on December 1. 1 Dec 31 Journalize the transactions. (Include entries to clase 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, es 5,275.) Date Account Titles and Explanation Debit Credit Feb. 1 Mar. 20 Oct 1 Nov 1 Dec 31 (To record net income) (To close cash dividends) (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. For accounts that have zero ending balance, the entry should be the balance dote and zero for the amount.) Preferred Stock 1/1 Bal 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 > > > Calculate the payout ratio, carnings per share, and return on common stockholders'equity. Round earning per shore to 2 decimal places, eg. $2.66 and all other answers to 1 decimal place 17.5%) Payout ratio %% Earnings per share $ Return on common stockholders' equity Textbook and Media