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QuestionThe stockholders’ equity accounts of Blue Spruce Cor

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QuestionThe stockholders’ equity accounts of Blue Spruce Corp. on January… The stockholders’ equity accounts of Blue Spruce Corp. on January 1, 2022, were as follows.Preferred Stock (7%, $100?ar noncumulative,?,500?hares authorized) $210,000Common Stock ($4?tated value,?10,000?hares authorized)700,000Paid-in Capital in Excess of Par Value?referred Stock 10,500Paid-in Capital in Excess of Stated Value?ommon Stock 336,000 Retained Earnings481,600Treasury Stock (3,500?ommon shares) 28,000During 2022, the corporation had the following transactions and events pertaining to its stockholders’ equity.Feb.1Issued?,500?hares of common stock for $21,000.Mar.20Purchased?00?dditional shares of common treasury stock at $7?er share.Oct.1 Declared a?% cash dividend on preferred stock, payable November 1.Nov.1Paid the dividend declared on October 1.Dec.1 Declared a $0.50?er share cash dividend to common stockholders of record on December 15, payable December 31, 2022Dec.31Determined that net income for the year was $195,000. Paid the dividend declared on December 1.Part 1 Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.)Date Account Titles and Explanation Debit CreditMonths—– to use — above feb to dec giving you an idea Dec 31 (To record net income)just giving you an ideaDec 31 (To close cash dividends)Dec 31 (To record payment of cash dividends payable)Part 2?????????????referred Stock?????????????Common Stock?????????????Paid-in Capital in Excess of Par Value?referred Stock????Paid-in Capital in Excess of Stated Value?ommon Stock?????????????Retained Earnings????????????????????????ash Dividends??????????????Treasury Stock?art 3?repare the stockholders’ equity section of the balance sheet at December 31, 2022.??????????????????lue spruce Corporation????????????????????????????????????artial Balance sheet???????????????????Dec 31. 2022Part 4Calculate the payout ratio, earnings per share, and return on common stockholders’ equity. (Note: Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round answers to 2 decimal places, e.g 17.50%.)Payout Ratio????????????????????????????Earnings per share??????????????????????? $Return on common stockholders’ equity??????%AccountingBusinessFinancial Accounting

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