The stockholders' equity accounts of Martinez 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 10,500 shares of common stock for $63,000. Mar. 20 Purchased 2,100 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a $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 $590,000. Paid the dividend declared on December 1 . Date Account Titles and Explanation Debit Credi Feb.1 Mar. 20 Oct. 1 Nov. 1 Dec 1 (To record net income) (To close cash dividends) (To record payment of cash dividends payable)