The stockholders' equity accounts of Indigo Corporation on January 1, 2022 were as follows. $600,000 2.000.000 30,000 Preferred Stock (7%, $100 par noncumulative, 10,000 shares authorized) Common Stock ($4 stated value, 600,000 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 (10,000 common shares) 960,000 1,376,000 80,000 Feb 1 Mar. 20 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Issued 10,000 shares of common stock for $60.000 Purchased 2.000 additional shares of common treasury stock at $7 per share OCL Declared a 7% cash dividend on preterred stock, payable November 1 Paid the dividend declared on October 1 Dec. Declared a $0.50 per share cash dividend to common stockholders of record on December 15 payable December 31, 2 1 Nov 1 1 Dec. 31 Determined that net income for the year was $550,000. Paid the dividend declared on December 1 4.72/12 Part 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 tities 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 decimal places, eg. 5,2753 Date Account Titles and Explanation Debit Credit Feb, 1 Cash (To record net income) (To dose cash dividends) Part 3 4.72/12 Prepare the stockholders equity section of the balance sheet at December 31, 2022 INDIGO CORPORATION Partial Balance Sheet IN Part 4 Your answer is partially correct. 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, es 17.50%) Payout ratio 5291 Earnings per share 1.03 Return on common stockholders' equity 11:52 %