View Policies Current Attempt in Progress On January 1, 2022. Grouper Corp, had these stockholders equity accounts. Common Stock (510 par value, 68,000 shares issued and outstanding) $680,000 Paid-in Capital in Excess of Par Value 483,000 Retained Earnings 630,000 During the year, the following transactions occurred. Jan 15 Declared a $0.50 cash dividend per share to stockholders of record on January 31, payable February 15 Feb. 15 Paid the dividend declared in January Apr Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $16 per share. Issued the shares for the stock dividend. Dectared a $0.50 per share cash dividend to stockholders of record on December 15, payable January 10.2023. Dec. 31 Determined that net income for the year was $356.000, 15 May 15 Dec 1 (a) 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 for the amounts.) Date Account Titles and Explanation Debit Credit Date Account Titles and Explanation Debit Credit o dove net incomal Todos sandal Common Stock Retained Earnings Pald-in Capital in Excess of Par Value Cash Dividends Common Stock Dividends Distributable Stock Dividends Prepare the stockholders equity section of the balance sheet at December 31. NOVAK CORP Partial Balance Sheet $ e Textbook and Media List of Accounts Calculate the payout ratio and return on common stockholders' equity (Round answers to 1 decimal place, 12.5%) Payout ratio Return on common stockholders' equity