The stockholders equity accounts of Metlock, Inc. on January 1, 2022, were as follows.

Preferred Stock (8%, $100 par noncumulative, 5,000 shares authorized) $535,000

Common Stock ($10 stated value, 800,000 shares authorized) 1,400,000

Paid-in Capital in Excess of Par ValuePreferred Stock 57,000

Paid-in Capital in Excess of Stated Value Common Stock 910,000

Retained Earnings 740,000

Treasury Stock (7,700 common shares) 61,600

During 2022, the corporation had the following transactions and events pertaining to its stockholders equity.

Mar 1 Issued 6,300 shares of common stock for $85 per share.

June 22 Purchased 1,900 additional shares of common treasury stock at $11 per share.

Sept. 1 Declared a 8% cash dividend on preferred stock, payable October 1.

Oct. 1 Paid the dividend declared on September 1.

Dec. 1 Declared a $0.80 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. 31 Determined that net income for the year was $117,000. Paid the dividend declared on December 1.

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. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Debit Credit Account Titles and Explanation Cash Mar. 1 535000 Common Stock 2 Paid-in Capital in Excess of Stated Value-Common Stock June 22 Treasury Stock 20900 Cash 20900 Sept. 1 Cash Dividends 42800 Dividends Payable 42800 Oct. 1 Dividends Payable Cash Dec. 1 Cash Dividends Dividends Payable Dec. 31 Income Summary Retained Earnings (To close net income) Dec. 31 Retained Earnings Cash Dividends (To close dividends) Dec. 31 Dividends Payable Cash (To close cash dividends paid)