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enter the beginung balances in the accounts and post the jourbal wntries to the stokchokders equity accounts

The stockholders' equity accounts of Flounder Corp. on January 1,2025, were as follows: During 2025, the corporation bad the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 7,500 shares of common stock for $45,000. Mar. 20 Purchased 1,500 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1. Nov 1 Paid the dividend declared on October 1. Dec 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15 , payable December 31,2 Dec 31 Determined that net income for the year was $430,000. 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 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 0 for the amounts. List all debit entries before credit entries.) Dec. 1 Cash Dluidends 186750 Dividends Payable 186750 Dec 31: Income Summary 430,000 Retained Earnoss QStained Earnings: (To close Income Summary and transfer net income to Retained Earnings) Dec, 31 ; Retained Earnings 218,250 Cash Dividends 218,250 (To close Cash Dividends to Retained Earnings) Dec. 31 Cash Dividends 186,750 Dividends Payable 186,750 (To record payment of cash dividends payable) Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. (Post entries in the order of journal entries recorded in the previous port. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount on the normal side of the account.) Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Cash Dividends

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