The stockholders' equity accounts of Kingbird, Inc. on January 1, 2022, were as follows. Preferred Stock (10%, $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 (8,600 common shares) $400,000 1,410,000 51,000 830,000 780,000 68,800 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Mar 1 June 22 1 Sept. Oct. 1 Issued 6,200 shares of common stock for $80 per share. Purchased 1,100 additional shares of common treasury stock at $11 per share. Declared a 10% 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 $130,000. 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. not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit (To paid the dividend declared on December 1) (To close net income) (To close dividends)