The stockholders' equity accounts of Sheffield Corp.on January 1, 2022, were as follows. Preferred Stock (8%, $100 par noncumulative. 5,000 shares authorized) $450,000 Common Stock ($10 stated value. 800,000 shares authorized) 1,550,000 Paid-in Capital in Excess of Par Value-Preferred Stock 67,000 Paid-in Capital in Excess of Stated Value - Common Stock 800.000 Retained Earnings 810.000 Treasury Stock (8,400 common shares) 67,200 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Mar 1 Issued 6,000 shares of common stock for $90 per share June 22 Purchased 2,000 additional shares of common treasury stock at $11 per share. Sept. 1 Declared a 8% cash dividend on preferred stock, payable October 1. Oct. 1 Paid the dividend declared on September 1. Dec. 1 Declared a $0.70 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. 31 Determined that net income for the year was $130,000. Paid the dividend declared on December 1. JUUI TIJ 12 th tranhLTIUMS TOP the date 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 for the amounts) Date Account Titles and Explanation Debit Credit (To close net income) (To close dividends) (To close cash dividends paid)