View Policies Current Attempt in Progress The stockholders' equity accounts of Sarasota Corp. on January 1, 2022 were as follows. Preferred Stock (7%, $100 par noncumulative, 3,000 shares authorized) Common Stock ($4 stated value, 180,000 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 (3,000 common shares) $180,000 600,000 9,000 288.000 412.800 24,000 During 2022. the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. NOV. 1 Dec 1 Dec 31 Issued 3.000 shares of common stock for $18,000. Purchased 600 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 Declared a 50:50 per share cash dividend to common stockholders of record on December 15, paya Determined that net income for the year was $168.000. Paid the dividend declared on December 1. re to search During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Nov. 1 Dec. 1 Dec. 31 Issued 3,000 shares of common stock for $18,000. Purchased 600 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 De Determined that net income for the year was $168,000. Paid the dividend declared on December 1. Journalize the transactions. (include entries to close net income and dividends to Retained Earnings.) (Record entries in the or displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not Indent manual no entry is required, select "No Entry" for the account titles and enter for the amounts Round answers to decimal places, eg 5.273 Date Account Titles and Explanation Debit Credit - 15 E Date Account Titles and Explanation Debit Credit