The stockholders' equity accounts ofBlue Spruce Corp.on January 1, 2022, were as follows.

Preferred Stock (7%, $100par noncumulative,3,500shares authorized)$210,000Common Stock ($4stated value,210,000shares authorized)700,000Paid-in Capital in Excess of Par ValuePreferred Stock10,500Paid-in Capital in Excess of Stated ValueCommon Stock336,000Retained Earnings481,600Treasury Stock (3,500common shares)28,000

During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity.

Feb.1Issued3,500shares of common stock for $21,000.Mar.20Purchased700additional shares of common treasury stock at $7per share.Oct.1Declared a7% cash dividend on preferred stock, payable November 1.Nov.1Paid the dividend declared on October 1.Dec.1Declared a $0.50per share cash dividend to common stockholders of record on December 15, payable December 31, 2022.Dec.31Determined that net income for the year was $195,000. Paid the dividend declared on December 1.

Part 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 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 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.)

Date

Account Titles and Explanation

Debit

Credit

choose a transaction date

Feb. 1

Mar. 20

Oct. 1

Nov. 1

Dec. 1

Dec. 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

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

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit amount

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit amount

choose the end date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit balance

choose the end date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit balance

Common Stock

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit amount

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit amount

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit amount

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit amount

choose the end date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit balance

choose the end date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit balance

Paid-in Capital in Excess of Par ValuePreferred Stock

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit amount

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit amount

choose the end date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit balance

choose the end date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit balance

Paid-in Capital in Excess of Stated ValueCommon Stock

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit amount

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit amount

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit amount

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit amount

choose the end date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit balance

choose the end date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit balance

Retained Earnings

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit amount

choose the beginning date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit balance

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit amount

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit amount

choose the end date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit balance

choose the end date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit balance

Cash Dividends

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit amount

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit amount

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit amount

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit amount

choose the end date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit balance

choose the end date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit balance

Treasury Stock

choose the beginning date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit balance

choose the beginning date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit balance

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit amount

choose a transaction date

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit amount

choose the end date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a debit balance

choose the end date of the accounting period

1/1Bal.

2/1

10/1

3/20

12/1

12/31

12/31Bal.

enter a credit balance

Prepare the stockholders' equity section of the balance sheet at December 31, 2022.

BLUE SPRUCE CORP.

Partial Balance Sheet

choose the accounting period

December 31, 2022

For the Year Ended December 31, 2022

For the Month Ended December 31, 2022

select an opening section name

Current Assets

Current Liabilities

Intangible Assets

Long-term Investments

Long-term Liabilities

Property, Plant and Equipment

Stockholders' Equity

Total Assets

Total Current Assets

Total Current Liabilities

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders' Equity

Total Long-term Investments

Total Long-term Liabilities

Total Property, Plant and Equipment

Additional Paid-in Capital

Paid-in Capital

Capital Stock

Total Capital Stock

Total Paid-in Capital

Total Paid-in Capital and Retained Earnings

Total Stockholders' Equity

Total Additional Paid-in Capital

select an opening subsection name

Current Assets

Current Liabilities

Intangible Assets

Long-term Investments

Long-term Liabilities

Property, Plant and Equipment

Stockholders' Equity

Total Assets

Total Current Assets

Total Current Liabilities

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders' Equity

Total Long-term Investments

Total Long-term Liabilities

Total Property, Plant and Equipment

Additional Paid-in Capital

Paid-in Capital

Capital Stock

Total Capital Stock

Total Paid-in Capital

Total Paid-in Capital and Retained Earnings

Total Stockholders' Equity

Total Additional Paid-in Capital

Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note:Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.)(Round answers to 2 decimal places, e.g 17.50%.)

Payout ratioenter payout ratio in percentages rounded to 1 decimal place

%Earnings per share$

enter earnings per share in dollars rounded to 2 decimal places

Return on common stockholders' equityenter return on common stockholders' equity ratio in percentages rounded to 1 decimal place