The stockholders' equity accounts of Sarasota Corp.on January 1, 2017, were as follows. Prepare the stockholders' equity section of the balance sheet at December 31, 2017. Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Preferred Stock (6%, $100 par noncumulative. 4.450 shares authorized) Common Stock (54 stated value, 296,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Pald-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (4.450 common shares) $267.000 947,200 13.350 473.600 699,500 35.600 SARASOTA CORP. Partial Balance Sheet Preferred Stock . Common Stock Feb During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. 1 1 Issued 5.100 shares of common stock for $30.600. Mar. 20 Purchased 1.800 additional shares of common treasury stock at $9 per share. Oct 1 Declared a 6% cash dividend on preferred stock payable November 1 1 Pald the dividend declared on October 1 Dec. 1 Declared a $0.80 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017 Dec 31 Determined that net income for the year was $277,600. Pald the dividend declared on December 1. . 1. $ Now + $c Paid-in Capital in Excess of Par Value-Preferred Stock 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 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. Round answers to O decimal places, e... 5.275.) Paid-in Capital in Excess of Stated Value-Common Stock Date Account Titles and Explanation Debit Feb. 1 Mar. 20 Retained Earnings + Oct 1 $ Nov. 1 Cash Dividends Nov 1 : Dec. 1 : Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Round earning per share to 2 decimal places, e.g. $2.66 and all other answers to 1 decimal place. 17.5%.) (To record net income) Treasury Stock Payout ratio Dec 31 Earnings per share $ (To dose cash dividends) Return on common stockholders' equity % Dec. 31 . . The stockholders' equity accounts of Sarasota Corp.on January 1, 2017, were as follows. Prepare the stockholders' equity section of the balance sheet at December 31, 2017. Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Preferred Stock (6%, $100 par noncumulative. 4.450 shares authorized) Common Stock (54 stated value, 296,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Pald-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (4.450 common shares) $267.000 947,200 13.350 473.600 699,500 35.600 SARASOTA CORP. Partial Balance Sheet Preferred Stock . Common Stock Feb During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. 1 1 Issued 5.100 shares of common stock for $30.600. Mar. 20 Purchased 1.800 additional shares of common treasury stock at $9 per share. Oct 1 Declared a 6% cash dividend on preferred stock payable November 1 1 Pald the dividend declared on October 1 Dec. 1 Declared a $0.80 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017 Dec 31 Determined that net income for the year was $277,600. Pald the dividend declared on December 1. . 1. $ Now + $c Paid-in Capital in Excess of Par Value-Preferred Stock 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 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. Round answers to O decimal places, e... 5.275.) Paid-in Capital in Excess of Stated Value-Common Stock Date Account Titles and Explanation Debit Feb. 1 Mar. 20 Retained Earnings + Oct 1 $ Nov. 1 Cash Dividends Nov 1 : Dec. 1 : Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Round earning per share to 2 decimal places, e.g. $2.66 and all other answers to 1 decimal place. 17.5%.) (To record net income) Treasury Stock Payout ratio Dec 31 Earnings per share $ (To dose cash dividends) Return on common stockholders' equity % Dec. 31