The stockholders' equity accounts of Martinez Corp.on January 1,2017,were as follows. Preferred Stock (7%, $100 par noncumulative, 5,000 shares authorized) Common Stock ($4 stated value, 300,000 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 (5,000 common shares) $300,000 1,000,000 15,000 480,000 689,000 40,000 During 2017,the corporation had the following transactions and events pertaining to its stockholders' equity Feb. 1 Issued 5,000 shares of common stock for $30,000. Mar. 20 Purchased 1,000 additional shares of common treasury stock at $8 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, 2017. Dec. 31 Determined that net income for the year was $275,700. Paid the dividend declared on December 1 Journalize the transactions. (Include entries to close net income and dvldends to Retained Eanings.) (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 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Credit Date Account Titles and Explanation Debit Feb. 1 Cash 30000 Common Stock 20000 Paid-in Capital in Excess of Stated Value-Con 10000 Mar. 20 Treasury Stock 8000 Cash 8000 Oct. 1 Cash Dividends 21000 Dividends Payable 21000 Novw 1 Dividends Parable Dividends Payable 21000 Cash 21000 Dec. 1 Cash Dividends 124500 Dividends Payable 124500 Dec. 31 275700 275700 To record net income) Retained Earnings Cash Dividends (TO close cash dividends) Dividends Payable Dec. 31 145500 145500 Dec. 31 124500 Cash 124500 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 date and zero for the amount.) Preferred Stock 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