The stockholders' equity accounts of Sarasota Corp. on Janauary 1, 2022, were as follows.

The stockholders' equity accounts of Sarasota Corp. on January 1, 2022, were as follows. Preferred Stock (7%, 5100 par non cumulative, 3,000 shares authorised) $180.000 Common Stock 84 stated value, 180,000 shares authorized 600.000 Pald-In Capital in Excess of Par Value--Preferred Stock 9.000 Paid in Capital in Excess of Stated Value-Common Stock 288,000 Retained Earnings 412,800 Treasury Stock (3,000 common shares) 24,000 During 2022. the corporation had the following transactions and events pertaining to its stockholders' equity Feb 1 Issued 3,000 shares of common stock for $18,000 Mar. 20 Purchased 600 additional shares of common treasury stock at $7 per share. Oct Declared a 7% cash dividend on preferred stock payable November 1 Now 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 $168.000. Paid the dividend declared on December 1 1 1 1 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 tore automatically indented when amount 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, es 5275) Date Account Titles and Explanation Debit Credit