U LULATOR PRINTER VERSION Problem 14-01A a-c (Video) On January 1, 2020, Wildhorse Corporation had the following stockholders' equity accounts. Common Stock ($22 par value, 54,000 shares issued and outstanding) $1,188,000 Pald-in Capital in Excess of Par-Common Stock 199,000 Retained Earnings 626,000 During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. 1 July 1 31 Dec. 1 31 Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February Announced a 2-for-1 stock split. Prior to the split, the market price per share was $35. Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price Issued the shares for the stock dividend. Declared a $0.40 per share dividend to stockholders of record on December 15, payable January 5, 2021. Determined that net income for the year was $321,500. the stock was $15 per share Your answer is partially correct. Try again. 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 is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Feb. 1 - Retained Earnings T Dividends Payable 162000 PM search Orte e SYSCHA LEN 1 Dividends Payable 162000 Cash 162000 No Entry No Entry Retained Earnings 243000 Common Stock Dividends Distributable 178200 Paid-in Capital in excess of Par-Common Stock 64800 31 Common Stock Dividends Distributable 162000 Common Stock 162000 Cash Dividends 71280 Dividends Payable Income Summary 71280 1 321500 Ratained Earnings (To cose net income) 321500 7128 Dividends Payable 321500l - 31.income Summary Retained Earnings (To close net income) 32150 (To close stock dividends) (To close cash dividends) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Your answer is incorrect. Try again. thebeaning balances, and post the entries to the stockholders equity accounts. (Note:Open adde the order of journal entries presented in the previous part.) o e o