urses/37282/assignments/3954752?module_item_id=12606198 accounts of Grouper Corp. on January 1, 2022, were as follows. $510,000 1.700,000 Preferred Stock (7%, $100 par noncumulative, 8.500 shares authorized) Common Stock (54 stated value, 510,000 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 (8,500 common shares) 816,000 1,169,600 68,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders'equity. Feb. 1 Issued 8,500 shares of common stock for $51,000 Mar. 20 Purchased 1,700 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1. Nov. 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, 202 Dec. 31 Determined that net income for the year was $476,000. Paid the dividend declared on December 1. ses/37282/assignments/3954752?module item_id=12606198 Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statement. 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 Ofor the amounts. Round answers to 0 decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit Feb. Cash 51,000 Common Stock 34.000 Common Stock 17.000 Mar. 20 Treasury Stock Cash 11.900 Retained Earnings 35,700 Dividends Payable 35,700 Dividends Payable 35,700 ses/37282/assignments/3954752?module item_id=12606198 Nov. 1 Dividends Payable 35,700 Cash 35,700 Dec 1 Retained Earnings 211.650 Dividends Payable 211,650 Dec 31 Income Summary 476,000 Retained Earnings 476,000 (To record net income) Dec. 31 Dividends Payable | 211.650 Cash 211.650 (To close cash dividends) No Entry Dec. 31 No Entry courses/37282/assignments/3954752?module item_id=12606198 Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Preferred Stock 510,000 510,000 Common Stock 1.700.000 34,000 1.734.000 Paid-in Capital in Excess of Par Value-Preferred Stock 25,500 25,500 Paid-in Capital in Excess of Stated Value-Common Stock Paid-in Capital in Excess of Stated Value-Common Stock 816,000 17,000 833,000 Retained Earnings 35.700 1,169,600 211,650 476,000 1,398,250 Cash Dividends ses/37282/assignments/3954752?module_item_id=12606198 Treasury Stock 68,000 11.900 79.900 e Textbook and Media List of Accounts N tockholders'equity section of the balance sheet at December 31, 2022. GROUPER CORP Partial Balance Sheet U i 0 CSS 9 OL SI IT 0 m 2:29 PM 4/27/2020 Total Current Liabilities e Textbook and Media List of Accounts O H O H B B. 9 2:30 PM 06 4/21/2020 the payout ratio, earnings per share, and return on common stockholders' equity. (Note:Use the common shares tanding on January 1 and December 31 to determine the average shares outstanding.) (Round answers to 2 decimal places, e.g. 15.25.) Payout ratic Earnings per share Return on common stockholders' equity NII eTextbook and Me List of Accounts Save for Later urses/37282/assignments/3954752?module_item_id=12606198 accounts of Grouper Corp. on January 1, 2022, were as follows. $510,000 1.700,000 Preferred Stock (7%, $100 par noncumulative, 8.500 shares authorized) Common Stock (54 stated value, 510,000 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 (8,500 common shares) 816,000 1,169,600 68,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders'equity. Feb. 1 Issued 8,500 shares of common stock for $51,000 Mar. 20 Purchased 1,700 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1. Nov. 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, 202 Dec. 31 Determined that net income for the year was $476,000. Paid the dividend declared on December 1. ses/37282/assignments/3954752?module item_id=12606198 Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statement. 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 Ofor the amounts. Round answers to 0 decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit Feb. Cash 51,000 Common Stock 34.000 Common Stock 17.000 Mar. 20 Treasury Stock Cash 11.900 Retained Earnings 35,700 Dividends Payable 35,700 Dividends Payable 35,700 ses/37282/assignments/3954752?module item_id=12606198 Nov. 1 Dividends Payable 35,700 Cash 35,700 Dec 1 Retained Earnings 211.650 Dividends Payable 211,650 Dec 31 Income Summary 476,000 Retained Earnings 476,000 (To record net income) Dec. 31 Dividends Payable | 211.650 Cash 211.650 (To close cash dividends) No Entry Dec. 31 No Entry courses/37282/assignments/3954752?module item_id=12606198 Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Preferred Stock 510,000 510,000 Common Stock 1.700.000 34,000 1.734.000 Paid-in Capital in Excess of Par Value-Preferred Stock 25,500 25,500 Paid-in Capital in Excess of Stated Value-Common Stock Paid-in Capital in Excess of Stated Value-Common Stock 816,000 17,000 833,000 Retained Earnings 35.700 1,169,600 211,650 476,000 1,398,250 Cash Dividends ses/37282/assignments/3954752?module_item_id=12606198 Treasury Stock 68,000 11.900 79.900 e Textbook and Media List of Accounts N tockholders'equity section of the balance sheet at December 31, 2022. GROUPER CORP Partial Balance Sheet U i 0 CSS 9 OL SI IT 0 m 2:29 PM 4/27/2020 Total Current Liabilities e Textbook and Media List of Accounts O H O H B B. 9 2:30 PM 06 4/21/2020 the payout ratio, earnings per share, and return on common stockholders' equity. (Note:Use the common shares tanding on January 1 and December 31 to determine the average shares outstanding.) (Round answers to 2 decimal places, e.g. 15.25.) Payout ratic Earnings per share Return on common stockholders' equity NII eTextbook and Me List of Accounts Save for Later