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On January 1, 2022, Pina Colada Corp. had the following stockholders' equity accounts.

Common Stock ($10 par value, 80,500 shares issued and outstanding)		$805,000
Paid-in Capital in Excess of ParCommon Stock		211,000
Retained Earnings		548,000

During the year, the following transactions occurred.

Jan. 15		Declared a $1 cash dividend per share to stockholders of record on January 31, payable February 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 $15 per share.
May 15		Issued the shares for the stock dividend.
July 1		Announced a 2-for-1 stock split. The market price per share prior to the announcement was $15. (The new par value is $5.)
Dec. 1		Declared a $0.50 per share cash dividend to stockholders of record on December 15, payable January 10, 2023.
Dec. 31		Determined that net income for the year was $245,000.

Current Attempt in Progress On January 1, 2022, Pina Colada Corp. had the following stockholders' equity accounts. Common Stock ($10 par value, 80,500 shares issued and outstanding) $805,000 Paid-in Capital in Excess of Par-Common Stock 211,000 Retained Earnings 548,000 During the year, the following transactions occurred. Jan. 15 Declared a $1 cash dividend per share to stockholders of record on January 31, payable February 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 $15 per share. May 15 Issued the shares for the stock dividend. July 1 Announced a 2-for-1 stock split. The market price per share prior to the announcement was $15.(The new par value is $5.) Dec. 1 Declared a $0.50 per share cash dividend to stockholders of record on December 15, payable January 10, 2023. Dec. 31 Determined that net income for the year was $245,000. Date Account Titles and Explanation Debit Credit Jan. 15 Cash Dividends Dividends Payable Feb. 15 Dividends Payable Cash Apr. 15 Stock Dividends Common Dividends Payable Paid-in Capital in Excess of Par-Common Stock May 15 Common Stock Dividends Distributable Common Stock Dec. 1 Cash Dividends Dividends Payable Dec. 31 V Income Summary Dec. 31 Income Summary Retained Earnings (To close cash dividends) Dec. 31 Retained Earnings Stock Dividends (To close stock dividends) Dec. 31 7 Retained Earnings Cash Dividends

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