Question: hello, need your help with this multiple answer question please(b,c) thank you in advance b b continued c On January 1, 2022, Sunland Corporation had
b
b continued
cOn January 1, 2022, Sunland Corporation had the following stockholders' equity accounts. $1,508,000 Common Stock ($26 par value, 58,000 shares issued and outstanding) Paid-in Capital in excess of Par-Common Stock Retained Earnings 199,000 553,000 During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. 1 July 1 Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February Announced a 2-for-1 stock split. Prior to the split, the market price per share was $37. Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $15 per share. Issued the shares for the stock dividend. Declared a $0,40 per share dividend to stockholders of record on December 15. payable January 5, 2023. Determined that net income for the year was $396,500. 31 Dec. 1 31 Retained Earnings Date Explanation Ref Debit Credit Balance Balance Net income Stock dividend Cash dividend Cash Dividends Date Explanation Ref Debit Credit Balance Stock Dividends Date Explanation Ref Debit Credit Balance (c) Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide descriptive information.) SUNLAND CORPORATION Balance Sheet (Partial) >
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