Help System Announcements CALCULATOR PRINTERVE Problem 14-01A Video) On January 1, 2020, Sheridan Corporation had the following stockholders' equity accounts. Common Stock ($22 par value, 53,500 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,177,000 191,000 631,000 During the year, the following transactions occurred. Feb. 1 Declared a 3 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $38. July 1 Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $15 per share. 31 issued the shares for the stock dividend. Dec. 1 Declared a 50.30 per share dividend to stockholders of record on December 15, payable January 5, 2021 31 Determined that net income for the year was $367,500. Journalize the transactions and the closing entries for net income and dividends. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry lere Entry for the account tities and enter for the amounts. Record journal entries the e n d problem.) Account Titles and Explanation Debit Credit C14 GRO Journalize the transactions and the closing entries for net income and dividends. (Credit account titles an automatically indented when amount is entered. Do not indent manually. If no entry is required Entry for the account titles and enter for the amounts. Record journal entries in the order pres problem.) Date A t The Expl Debut Credit 1:12 PM C14 GRO Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note: Open additional stockholders' equity accounts as needed.) (Post entries in the order of journal entries presented in the part.) Common Stock Date Explanation Ref Debit Credit Balance Balance Common Stock Dividends Distributable Date Explanation Ref Debit Credit Balance Common Stock Pald-in Capital in Excess of Par Date Explanation Ref D ebit Credit Balance Balance Retained Earnings Explanation Ref Debit Balance Net income Stock dividend Cash dividend Cast Dividends Explanation Ref Stock Dividends Explanation Ref Debit Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide information.) SHERIDAN CORPORATION Balance Sheet (Partial) Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 3 used SAVE POR LATER SUIT