The stockholders' equity accounts of Pronghorn Corp. on January 1, 2022 were as follows. Preferred Stock (7%, $100 par noncumulative, 14,500 shares authorized) $870,000 Common Stock (54 stated value, 870,000 shares authorized) 2.900,000 Paid-in Capital in Excess of Par Value-Preferred Stock 43.500 Paid-in Capital in Excess of sted Value-Common Stock 1,392,000 Retained Earnings 1.995.200 Treasury Stock (14,500 common shares) 116,000 Feb. 1 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Issued 14,500 shares of common stock for $87,000. Mar. 20 Purchased 2.900 additional shares of common treasury stock at 57 per share. Oct. Declared a 7% cash dividend on preferred stock, payable November 1. Nov. Paid the dividend declared on October 1. Dec Declared a $0,50 per share cash dividend to common stockholders of record on December 15, payable December 31 Dec 31 Determined that net income for the year was $810,000. Paid the dividend declared on December 1. 1 1 1 (a) Your swer Correct Answer (Used) Your answer is partially correct. Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statement. Credit account tities 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 Round answers to decimal places, s. 5,275) Date Account Titles and Explanation Debit Credit Feb. 1 Cash 82000 Common Stock 5806 Paid in Capital in Econom Your Answer Correct Answer usea Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statement. Credit account tities 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, Round answers to O decimal places, eg. 5,275) Date Account Titles and Explanation Credit Debit 87,000 Feb. 1 v Cash Common Stock 58,000 Paid-in Capital In Excess of Stated Value-Common Stock 29.000 Mar. 20 Treasury Stock 20,300 Cash 20.300 Oct 1