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The stockholders' equity accounts of Sheridan Corporation...

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Accounting

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The stockholders' equity accounts of Sheridan Corporation on January 1, 2025, were as follows. During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity. Mar. 1 Issued 6,600 shares of common stock for $90 per share. June 22 Purchased 1,200 additional shares of common treasury stock at $11 per share. Sept. 1 Declared a 9% cash dividend on preferred stock, payable October 1. Oct. 1 Paid the dividend declared on September 1. Dec. 1 Declared a $0.60 per share cash dividend to common stockholders of record on December 15 , payable December 31 . 2025. Date Account Titles and Explanation Debit Credit (To close net income) (To close dividends) (To record payment of the dividend declared on December 1)

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