el VE Problem 14-1A (Part Level Submission) On January 1, 2017, Geffrey Corporation had the following stockholders' equity accounts. Common Stock ($26 par value, 50,000 shares issued and outstanding) $1,300,000 Paid-in Capital in Excess of Par-Commen Stock 199,000 Retained Earnings 558,000 During the year, the following transactions occurred. Feb. 1 Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $37. July 1 Declared a 15% stock dividend to stockholders of record on July 15, distributable Suly 31. on July 1, the market price of the stock was $14 per share. 31 Issued the shares for the stock dividend. Dec. 1 Declared a $0.30 per share dividend to stockholders of record on December 15, payable January 5, 2018 31 Determined that net income for the year was $344,000. (a) Journalize the transactions and the closing entries for net income and dividends. (Credit account titles are automatically indented when amount is entered manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts. Record journal entries in the order presente problem.) Date Account Titles and Explanation Debit Credit