Study & Practice Gradebook ORION Downloadable e Textbook pen Assignment ESOURCES Problem 11 2A (Part Level Submission) The stockholders equity accounts of Monty Corp, on January 1. 2017, were as follows Preferred Stock (6%, $100 par noncumulative, 5,000 shares authorized) Common Stock ($4 stated value. 300,000 shares authorized) Paid-in Capital in Excess of Par Value Preferred Stock Paid-in Capital in Exxcess of Stated Value Common Stock Retained Earnings Treasury Stock (5,000 common shares) 300,000 1000,000 15,000 480.000 695,000 40,000 sion) During 2017, the corporation had the folloving transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 5,000 shares of common stock for $35.000. Mar. 20 Purchased 1,000 additional shares of common treasury stock at 59 per share. Oct. 1 Declared a 6% cash dividend on preferred stock payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a so.70 per share cash dividend to Dec 31 Determined that net income for the year vas $278,600. Paid the dividend declared on December 1 s by Study by Study common stockholders of record on December 15, payable December 31, 2017. v (a) Joumalize the transactions. (Include entries to close net income and and enter o for the amounts Round ansiwers to o decimal places a.g. 527 dividends to Retained Earnings) (Racond erntnes in the order displ Debit Credit Feb. 1 Cash Common Stock eyPLUS Helo I Read, Study & Practice Gradebook ORION Downloadable eTextbook ent>Open Assignment ENT RESOURCES Joumalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order and enter o for the amounts, Round answers to o decimal places,. g. 5,275) ise 11-2 Debit Credit Feb. lem 11-2A (Pa Common Stock 20000 Paid-in Capital in Excess of Par Value-Common St Mar. 20Treasury Stock 9000 w Score ctive Now. 11 Cash & Practice RCES Cash Dec. Dec: 31 (To record net income) Dec. 31 Study To dose cash dividends) To record payment of cash dividends payable) Enter the beginning balances in the accounts and post the journal entries to the s stockholders equity accounts (Post entries in the order of journal entries pested in the previous part) Preferred Stock Common Stock Pald-in Capital lin Excess of Par Value-Preteered Stock Paid-In Capital in Excess of Stated Value-Common Stock Retained Earnings Cash Dividends Tressury Stock the stockholders equity section of the balance sheet at December 31. 2014 MILEY CORPORATION Partlal Balance Sheet December 31, 2014 Calculate the payout ratio, earnings per share, and return on common stockholders equity. (Round earning per share to 2 declmal places, eg. $2.66 and all other answers to 1 decimal place. 17.5%) Payout ratio 96 Earnings per share 96 Return on common stockholders equity