Transcribed image text: Problem 14-01A a-c (Video) On January 1, 2020, Collumber Corporation had the following stockholders' equity accounts Common Stock ($24 par value, 59,000 shares issued and outstanding) $1,416,000 Paid in Capital in Excess of Par-Common Stock 197.000 Retained Earnings 559,000 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 Pald the dividend declared in February Apr 1 Announced a 2 for 1 stock split. Prior to the split, the market price per share was $39. July 1 Declared a 15% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $14 per share. 31 issued the shares for the stock dividend. Dec. 1 Declared a $0.60 per share dividend to stockholders of record on December 15, payable January 5, 2021. 31 Determined that net income for the year was $332,500. m Journalise the transactions and the desing entries for me income and dividends. (Credit account s are automatically indented whe amount is entered. Do not indent ally. If me entry is required, select "No Entry for the accounts and enter for the amounts Record journal entries in the order rented in the problem.) (To dose net income) (To dose stock dividends) (To cose cash dividends) 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 of journal entries presented in the previous part.) Common Stock Date Explanation Ref Debit Credit Balance villance Common Stock Dividends Distributable Date Explanation Ref Debit Credit Balance Pald-in Capital in Excess of Par-Common Stock Date Explanation Ref Debut Debit Balance Credit Balance Retained Earnings Date Explanation Ref Debit Credit Balance Balance Net income v Stock dividend Cash dividend Cash Dividends Date Explanation Ref Debit Credit Balance Stock Dividends Date Explanation Ref Debit Credit Balance earch Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide descriptive information.) CULLUMBER CORPORATION Balance Sheet (Partial)