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The stockholders' equity accounts of Pronghorn Corp. on January 1, 2022 were as follows. Preferred Stock (7%, $100 par noncumulative, 14,500 shares authorized) Common Stock (S4 stated value, 870,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (14,500 common shares) $870,000 2.900,000 43,500 1.392,000 1.995.200 116,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders'equity Feb. 1 Issued 14,500 shares of common stock for $87,000 Mar. 20 Purchased 2.900 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 Dec 31 Determined that net income for the year was $812,000. 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 for the amounts. Round answers to decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit Feb. 1 Cash 33110 Common Stock 23650 Paid-in Capital in Excess of Par Value-Common Stock 9460 Mar. 20 Treasury Stock 8400 Cash 8400 Oct. 1 Cash Dividends 21000 Dividends Payable 21000 Nov. 1 Dividends Payable 21000 Cash 21000 Dec. 1 Cash Dividends 99580 Dividends Payable 99580 Dec. 31 Income Summary 283900 BAN Oct 1 Cash Dividends 21000 Dividends Payable 21000 Nov. 1 Dividends Payable 21000 Cash 21000 Dec 1 Cash Dividends 99380 Dividends Payable 79580 Dec 31 Income Summary 2830 2 Retained Earning (To record net income) Retained in Dec 31 120580 Cash 120500 (Todose cash dividends) Dividends Payable Dec. 31 99500 Cauti 580 (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 posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Preferred Stock 1/1 Bal. 300000 12/31 Bal. 300000 Common Stock 1/1 Bal 1250000 2/1 23650 12/31 Bal 1273650 Paid-in Capital in Excess of Par Value-Preferred Stock 1/1 Bal. 12600 12/31 Bal 12600 Paid-in Capital in Excess of Stated Value-Common Stock 1/1 Bal 480000 2/1 9-460 12/31 Bal. 489460 Retained Earnings 12/31 Bal. 489460 Retained Earnings 12/31 120580 1/1 Bal. 688500 12/31 283900 12/31 Bal. 851820 Cash Dividends 10/1 21000 12/1 99580 12/31 120580 12/31 Bal. 0 Treasury Stock 1/1 Bal 33600 3/20 8400 45 December 31, 2022 Stockholders' Equity

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