The stockholders equity section of Doc Corporations balance as Paid-in Capital Preferred stock, 9%,$100 par value, non-cumulative, 10,000 shares authorized, 5,000 shares issued and outstanding............................................................ Common stock, $10 par value, 500,000 shares Authorized, 90,000 shares issued and 90,000 shares outstanding............................................... Paid in capital in excess of par- common stock....................... Total Paid-in Capital Retained earnings......................................................... Total Stockholders Equity The following transactions affecting stockholders equity occurred during the year: of January 1, 2019 is presented below: $ 500,000 900,000 200,000 $ 1,600,000 900,000 $ 2,500,000 Jan 15 Mar 1 Apr15 May 1 Oct 1 Declared the annual cash dividend on the preferred stock, payable April 15. Dec 31 Dec 31 Instructions: Declared a $2 per share cash dividend on the common stock outstanding payable April 15. Paid the cash dividends declared on January 15 and March 1. Issued 10,000 shares of common stock for $20 per share. Declared and issued a 10% stock dividend on the common stock outstanding. The market value of the common stock was $25. Net Income for the year was $700,000. Closed the income summary account. Close the dividend accounts. a. Prepare journal entries for the above . b. Post to the appropriate ledger accounts c. Prepare a stockholder equity section for December 31, 2019