The stockholders' equity accounts of Sigma Corporation on January 1, 2010, were as follows. Preferred Stock (8%, $100 par noncumulative, 5,200 shares authorized) $312,000 Common Stock ($5 stated value, 307,000 shares authorized) 1,068,000 Paid-in Capital in Excess of Par Value - Preferred Stock 18,370 Paid-in Capital in Excess of Stated Value - Common Stock 484,010 Retained Earnings 691,840 Treasury Stock - Common (5,200 shares) 41,600 During 2010 the corporation had these transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 5,200 shares of common stock for $31,200. Mar. 20 Purchased 1,090 additional shares of common treasury stock at $9 per share. Oct. 1 Declared a 8% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a $0.70 per share cash dividend to common stockholders of record on December 15, payable December 31, 2010. Dec. 31 Determined that net income for the year was $281,152. Paid the dividend declared on December 1. Journalize the transactions. (Include entries to close net income to Retained Earnings. List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.) Date Account/Description Debit Credit Feb. 1 Cash 31200 Common Stock 26000 Paid-in Capital in Excess of Stated Value-Common Stock 5200 Mar. 20 Treasury Stock 9810 Cash Oct. 1 Cash Dividends 24960 Dividends Payable 24960 Nov. 1 Dividends Payable 24960 Cash 24960 Dec. 1 Cash Dividends Dividends Payable Dec. 31 Income Summary Retained Earnings (To close income summary) Retained Earnings Cash Dividends (To close dividends) Dividends Payable Cash (To pay dividends) Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. (Use T accounts.) (If answer is zero please enter 0, do not leave any fields blank.) Preferred Stock Paid-in Cap. in Excess of Par Value - Pref. Stock 1/1 1/1 1/1 1/1 12/31 Bal. 12/31 Bal. 12/31 Bal. 12/31 Bal. Common Stock Paid-in Cap. in Exc. of Stated Value - Comm. Stock 1/1 Bal. 1/1 Bal. 1/1 Bal. 1/1 Bal. 2/1 2/1 2/1 2/1 12/31 Bal. 12/31 Bal. 12/31 Bal. 12/31 Bal. Retained Earnings Treasury Stock - Common 12/31 1/1 Bal. 1/1 Bal. 1/1 Bal. 12/31 12/31 3/20 3/20 12/31 Bal. 12/31 Bal. 12/31 Bal. 12/31 Bal. Cash Dividends 10/1 10/1 12/1 12/31 12/31 Bal. 12/31 Bal. Complete the stockholders equity section of the balance sheet at December 31, 2010 below. (If amount should be deducted please put either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).) SIGMA CORPORATION Partial Balance Sheet December 31, 2010 Stockholders equity Paid-in capital Capital stock Treasury stock8% Preferred stockIn excess of par value-preferred stockRetained earningsCommon stockIn excess of stated value-common stock, $100 par value, noncumulative, shares authorized, shares issued and outstanding $ In excess of par value-preferred stockTreasury stockIn excess of stated value-common stockRetained earningsCommon stock8% Preferred stock, no par, $5 stated value shares authorized, shares issued and shares outstanding Total capital stock $ Additional paid-in capital Treasury stock8% Preferred stockCommon stockIn excess of stated value-common stockRetained earningsIn excess of par value-preferred stock Retained earningsTreasury stockCommon stockIn excess of stated value-common stock8% Preferred stockIn excess of par value-preferred stock Total additional paid-in capital Total paid-in capital In excess of stated value-common stockTreasury stockRetained earningsCommon stockIn excess of par value-preferred stock8% Preferred stock Total paid-in capital and retained earnings Less: 8% Preferred stockRetained earningsTreasury stockCommon stockIn excess of par value-preferred stockIn excess of stated value-common stock ( common shares) Total Stockholders Equity $ Calculate the payout ratio, earnings per share, and return on common stockholders equity ratio. (Note: Use the common shares outstanding on January 1 and December 31 to determine average shares outstanding.) (Round all ratios to 1 decimal place, e.g. 25.5 and earnings per share to 2 decimal places, e.g. 2.25.) Payout ratio % Earnings per share $ Return on common stockholders' equity %