The stockholders' equity accounts of Flounder 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 7,500 shares of common stock for $45,000. Mar, 20 Purchased 1,500 additional shares of common treasury stock at $7 per share. Oct. 1 Declareda 7% cash dividend on preferred stock, payable November 1. Nov. 1 Pald the dividend declared on October 1. Dec: 1 Declareda $0.50 per share cash dividend to common stockholders of record on December 15 , payable December 31,2 Dec. 31 Determined that net income for the year was $420,000. Paid the dividend declared on December 1. Journalize the transactions, (Include entries to close 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 O for the amounts. Round answers to 0 decimal places, e. 8.5,275. . 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 date and zero for the amount.) Prepare the stockholders' equity section of the balance sheet at December 31,2022. Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note: Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round answers to 2 decimal places, eg. 15.25.) Payout ratio Earnings pershare Return on common stockholders' equity %