On January 1, 2022, Pina Colada Corp. had these stockholders' equity accounts. Common Stock ($10 par value, 70,500 shares issued and outstanding) $705,000 Paid-in Capital in Excess of Par Value 485,500 Retained Earnings 655,000 During the year, the following transactions occurred. Declared a $0.50 cash dividend per share to stockholders of record on January 31, payable February 15. Jan. 15 Feb. 15 Paid the dividend declared in January. Apr. 15 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 $13 per share. May 15 Issued the shares for the stock dividend. Declared a $0.50 per share cash dividend to stockholders of record on December 15, payable January 10, 2023. Dec. 1 Determined that net income for the year was $361,000. Dec. 31 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 O for the amounts.) Account Titles and Explanation Date Debit Credit (To close net income) (To close stock dividends) (To close cash dividends) Enter the beginning balances and post the entries to the stockholders' equity T-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 th amount.) Common Stock Retained Earnings Paid-in Capital in Excess of Par Value Cash Dividends Common Stock Dividends Distributable Stock Dividends eTextbook and Media List of Accounts Prepare the stockholders' equity section of the balance sheet at December 31. PINA COLADA CORP. Partial Balance Sheet %24 %24