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The stockholders' equity of DiFrancesco Company at March 31, 2019 is shown below. 4% preferred stock, $1,000 par value, 25,000 shares authorized; 10,000 shares issued

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The stockholders' equity of DiFrancesco Company at March 31, 2019 is shown below. 4% preferred stock, $1,000 par value, 25,000 shares authorized; 10,000 shares issued and outstanding $10,000,000 Common stock, $1 par value, 3,000,000 shares authorized; 700,000 shares issued and outstanding 700,000 Additional paid-in capital-preferred stock 60,000 Additional paid-in capital-common stock 17,150,000 Retained earnings 46,555,405 Total stockholders' equity $74,465,405 The following transactions, among others, occurred during the fiscal year ended March 31, 2020. April 15, 2019 Declare and pay preferred dividends of $380,000. April 15, 2019 Declare and pay common dividends of $1.40 per share. October 1, 2019 Execute a 3-for-1 stock split of the common stock when the stock price was $133 per share. March 1, 2020 Declare and pay common dividends of $0.60 per share. (a) Use the financial statement effects template to indicate the effects of these separate transactions. Note: Use negative signs with answers, when appropriate. Income Statement Net (a) Use the financial statement effects template to indicate the effects of these separate transactions. Note: Use negative signs with answers, when appropriate. Balance Sheet Cash Noncash = Liabilities + Contributed + Earned Transaction Asset Assets Capital Capital Revenue Apr. 15 (380,000) 0 0 0 (380,000) 0 Apr. 15 (98,000) X 0 0 (98,000) X 0 0 0 0 0 0 0 Mar. 1 (136,000) X 0 0 0 (136,000) * 0 Income Expenses 0 0 0 0 0 Oct, 1 0 0 0 0 (b) At March 31, 2020, the company reported net income for the year of $8,900,610. Compute retained earnings as of March 31, 2020. $ 2,736,015 x

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