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Record the above transactions, including any required entries to close dividends and net income. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually and If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Transaction entries: Date Account Titles and Explanation Debit Credit Jan. 15 Dividends Declared 56,375 Dividends Payable Jan. 31 Dividends Payable Cash Feb. 15 Dividends Payable 56,375 Cash Apr. 16 Dividends Declared 53,218 Stock Dividends Distributable Apr. 30 Stock Dividends Distributable Common Shares May 15 Stock Dividends Distributable 180,400 Common Shares Oct. 1 Common Shares 194,400 Common Shares Closing entries: Date Account Titles and Explanation Debit Credit Dec. 31 Income Summary 514,960 Retained Earnings 514,960 (To record net income/(loss)) Dec. 31 Retained Earnings 514,960 Dividends Declared 53,218 "To close dividend)Question 1 of 3 / 10 View Policies Current Attempt in Progress On January 1, 2021, Greencastle Corporation, a publicly traded company, had the following shareholders' equity accounts: Common shares (unlimited number of shares authorized, 45,100 shares issued) $1,804,000 Retained earnings 1,164,400 Accumulated other comprehensive income 55,760 During the year, the following transactions occurred: Jan. 15 Declared a $1.25 per share cash dividend to shareholders of record on January 31, payable February 15. Apr. 16 Declared a 10% stock dividend to shareholders of record on April 30, distributable May 15. On April 16, April 30, and May 15, the share prices were $12, $11.80, and $11.90, respectively. Oct. 1 Effected a 2-for-1 stock split. On October 1, the share price was $15. Dec. 31 Determined that net income for the year was $514,960. (a) Record the above transactions, including any required entries to close dividends and net income. (List all debit entries before redit entries, Credit account titles are automatically indented when the amount is entered. Do not indent manually and If no entry