Question 1 The stockholders' equity accounts of Riverbed Corp on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 15,000 shares authorized) Common Stock ($4 stated value, 900,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (15,000 common shares) $900,000 3,000,000 45,000 1,440,000 2,064,000 120,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Issued 15,000 shares of common stock for $90,000. Purchased 3,000 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. Determined that net income for the year was $820,000. Paid the dividend declared on December 1. Nov. 1 Dec. 1 Dec. 31 Date Account Titles and Explanation Debit Credit Feb. 1 Cash 90,000 Common Stock 60000 Paid-in Capital in Excess of Stated Value-Commor 30000 Mar. 20 v Treasury Stock 21000 Cash 21000 Oct. 1 Cash Dividends Dividends Payable Nov. 1 Dividends Payable Cash Dec. 1 Cash Dividends Dividends Payable Dec. 31 v Income Summary Retained Earnings (To record net income) Dec. 31 v Retained Earnings Cash Dividends (To close cash dividends) Dec. 31 Dividends Payable Cash (To record payment of cash dividends payable) Enter the beginning balances in the accounts and post the journ accounts that have zero ending balance, the entry should Preferred Stock 1/1 Bal. 900,000 12/31 Bal. v 900,000 Common Stock 1/1 Bal. 3,000,000 2/1 12/31 Bal. v Paid-in Capital in Excess of Par Value-Preferred Stock 1/1 Bal. 45,000 12/31 Bal. v 45,000 Paid-in Capital in Excess of Stated Value-Common Stock 1/1 Bal. 1,440,000 2/1 3/20 > 12/31 Bal. v