hit 8 Lab ASSI Question 10 of 10 < > On January 1, 2022, Blossom Corporation had the following stockholders' equity accounts. Common Stock (no par value, 93,000 shares issued and outstanding) $1,440,000 Retained Earnings 480,000 During the year, the following transactions occurred. Feb. 1 Mar. 1 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February. -/6 Apr. 1 July 1 31 Dec. 1 Announced a 3-for-1 stock split. Prior to the split, the market price per share was $36. Declared a 6% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $10 per share. Issued the shares for the stock dividend. Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2023. 31 Determined that net income for the year was $390,000.