The stockholders Equity accounts of my lease corporation on January 1st 2014 were as follows:

Preferred Stock (8%, $100 par non-cumulative; 4,500 shares authorized) = $270,000 Common Stock ($5 stated value; 310,300 shares authorized) = $1,241,200 Paid-in Capital in Excess of Par Value - Preferred Stock = $10,800 Paid-in Capital in Excess of Stated Value - Common Stock = $248,240 Retained Earnings = $678,800 Treasury Stock - (4,500 common shares) = $36,000

During 2014, the corporation had the following transactions and events pertaining to its stockholders' equity.

Feb. 1 = Issued 5,400 shares of common stock for $32,400 Mar. 20 = Purchased 1,020 additional shares of common treasury stock at $9 per share Oct. 1 = Declared a 8% cash dividend on preferred stock, payable November 1st Nov. 1 = Paid the dividend declared on October 1st Dec. 1 = Declared a $0.70 per share cash dividend to Common stockholders of record on December 15th, payable December 31st 2014 Dec. 31 = Determined that net income for the year was $283,100. Paid the dividend declared on December 1st

1) journalize the transactions 2) enter the beginning balances in the accounts and post the journal entries to the stockholders Equity accounts 3) prepare the stockholders Equity section of the balance sheet on December 31st 2014 4) calculate the payout ratio, earnings per share, and return on common stockholders equity. Round the earnings per share to two decimal places