Journalize transactions, post, and prepare a stockholders' equity section; calculate ratios. GLS During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb.Mar.Oct.Nov.Dec.12011131Issued5,000sharesofcommonstockfor$30,000.Purchased1,000additionalsharesofcommontreasurystockat$7pershare.Declareda79cashdividendonpreferredstock,payableNovember1.PaidthedividenddeclaredonOctober1.Declareda$0.50persharecashdividendtocommonstockholdersofrecordonDecember15,payableDecember31,2Determinedthatnetincomefortheyearwas$280,000.PaidthedividenddeclaredonDecember1. Instructions a. Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) b. Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. (Use T-accounts.) c. Prepare the stockholders' equity section of the balance sheet at December 31,2022