The stockholders' equity accounts of Culver Corporation on January $1,2025,$ were as follows.

Preferred Stock $(7\%,$ $$100$ par noncumulative, $8,000$ shares authorized$)$

$$480,000$

Common Stock $($$$4$ stated value, $480,000$ shares authorized$)$

Paid$-$in Capital in Excess of Par$-$Preferred Stock

Paid$-$in Capital in Excess of Stated Value$-$Common Stock

Retained Earnings

Treasury Stock $(8,000$ common shares$)$

$1,600,000$

$24\mathrm{.}000$

$768\mathrm{.}000$

$1\mathrm{.}100,800$

$64\mathrm{.}000$

During $2025,$ the corporation had the following transactions and events pertaining to its stockholders' equity.

Feb. $1$ Issued $8\mathrm{.}000$ shares of common stock for $$48\mathrm{.}000$

Mar $20$

Purchased $1,600$ 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\mathrm{.}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 $$450,000.$ 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 O for the amounts. List all debit entries before credit entries.$)$