The stockholders' equity accounts of Sandhill Corporation on January 1, 2025, were as follows. Preferred Stock (10%, $100 par noncumulative, 5,000 shares authorized) $400,000 Common Stock ($10 stated value, 800,000 shares authorized) 1,410,000 Paid-in Capital in Excess of Par-Preferred Stock 51,000 Paid-in Capital in Excess of Stated Value-Common Stock 830,000 Retained Earnings 780,000 Treasury Stock (8,600 common shares) 68,800 During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity. Mar. 1 Issued 6,200 shares of common stock for $80 per share. June 22 Sept. 1 Purchased 1.100 additional shares of common treasury stock at $11 per share. Oct. 1 Dec. 1 31 Declared a 10% cash dividend on preferred stock, payable October 1. Paid the dividend declared on September 1. Declared a $0.80 per share cash dividend to common stockholders of record on December 15, payable December 31. 2025. Determined that net income for the year was $130,000. 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 O for the amounts. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit