The stockholders' equity accounts of Sigma Corporation on January 1, 2012, were as follows. Preferred Stock (8%, $100 par noncumulative, 5,000 shares authorized) $300,000 Common Stock ($5 stated value, 300,000 shares authorized) 1,000,000 Paid-in Capital in Excess of Par Value - Preferred Stock 15,000 Paid-in Capital in Excess of Stated Value - Common Stock 480,000 Retained Earnings 688,000 Treasury Stock - Common (5,000 shares) 40,000 During 2012 the corporation had these transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 5,000 shares of common stock for $30,000. Mar. 20 Purchased 1,000 additional shares of common treasury stock at $7 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 $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2012. Dec. 31 Determined that net income for the year was $280,000. 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 Mar. 20 Oct. 1 Nov. 1 Dec. 1 Dec. 31 (To close income summary) (To close dividends) (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 1/1 Bal. 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, 2012 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, 2012 Stockholders equity Paid-in capital Capital stock , $100 par value, noncumulative, shares authorized, shares issued and outstanding $ , no par, $5 stated value shares authorized, shares issued and shares outstanding Total capital stock $ Additional paid-in capital Total additional paid-in capital Total paid-in capital Total paid-in capital and retained earnings Less: ( 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 %