Problem 2 (20 points) The stockholder's equity section of Doc Corporation's balance as of January 1, 2019 is presented below: Paid-in Capital Preferred stock, 9%.5100 per value, non-cumulative, 10,000 shares authorired, 5.000 shares issued $ 500,000 and outstanding Common stock, 510 par value, 500,000 shares Authorized 90,000 shares issued and 90,000 shares outstanding...... 900,000 Paid in capital in excess of par common stock. 200.000 Total Paid-in Capital $ 1,600,000 Retained carings..... 900.000 Total Stockholder's Equity $2.500.000 The following transactions affecting stockholder's equity occurred during the year: Jan 15 Declared the annual cash dividend on the preferred stock, payable April 15. Mar 1 Declared a 52 per share cash dividend on the common stock outstanding payable April 15. Apr15 Paid the cash dividends declared on January 15 and March 1. May 1 Issued 10,000 shares of common stock for $20 per share. Oct 1 Declared and issued a 10% stock dividend on the common stock outstanding. The market value of the common stock was $25. Dec 31 Net Income for the year was $700,000. Closed the income summary account. Dec 31 Close the dividend accounts. Instructions: . Prepare journal entries for the above. b. Post to the appropriate ledger accounts c. Prepare a stockholder equity section for December 31, 2019