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CALCULATOR The stockholders' equity accounts of Blue Spruce Corp. on January 1, 2017, were as follows. Preferred Stock (8%, $ 100 par noncumulative, 4,300 shares authorized) $258,000 Common Stock ($3 stated value, 341,000 shares authorized) 852,500 Paid-in Capital in Excess of Par Value-Preferred Stock 12,900 Paid-in Capital in Excess of Stated Value-Common Stock 545,600 Retained Earnings 687,500 Treasury Stock (4,300 common shares) 34,400 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Issued 5,030 shares of common stock for $30,180. Feb. 1 Purchased 1,700 additional shares of common treasury stock at $9 per share. Mar. 20 Declared a 8% cash dividend on preferred stock, payable November 1 Oct. 1 Paid the dividend declared on October 1 Nov. 1 Declared a $0.80 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Dec. 1 natarminnd thst nntimeomn far tha nse se en0n 00 Dsid ha dadend deels Dec. 1 Declared a $0.80 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Dec. 31 Determined that net income for the year was $280,100. Paid the dividend declared on December 1. (a) Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the pr statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Mar. 20 Mar. 20 CALC (To record net income) art 3a 3b -11 (To close cash dividends) (To record payment of cash dividends payable) Click if you would like to Show Work for this question: Open Show Work

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