Wiley Plus week 4 ACC 291 Principles of Accounting problem 11-8A is attached

Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders' equity accounts. Common Stock ($10 par value, 70,900 shares issued and outstanding) Paid-in Capital in Excess of Par Value Retained Earnings $709,000 521,100 676,900 During the year, the following transactions occurred. Jan. 15 Declared a $0.50 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Paid the dividend declared in January. Apr. 15 Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $15 per share. May 15 Issued the shares for the stock dividend. Dec. 1 Declared a $0.50 per share cash dividend to stockholders of record on December 15, payable January 10, 2015. Dec. 31 Determined that net income for the year was $440,800. JOURNALIZE THE TRANSACTIONS NEXT PART: Enter the beginning balances and post the entries to the stockholders' equity T-accounts. NEXT PART: Prepare the stockholders' equity section of the balance sheet at December 31. LAST PART: Calculate the payout ratio and return on common stockholders' equity. (Round answers to 1 decimal place, e.g. 12.5%.)