During 2022, the corporation had the following transactions and events pertaining to its stockholders’ equity.

The stockholders’ equity accounts of Indigo Corporation on January 1, 2022, were as follows.

During 2022, the corporation had the following transactions and events pertaining to its stockholders’ equity.

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
Credit
choose a transaction date
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
choose a transaction date
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
choose a transaction date
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
choose a transaction date
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
choose a transaction date
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
choose a transaction date
enter an account title to record net income
enter a debit amount
enter a credit amount
enter an account title to record net income
enter a debit amount
enter a credit amount
(To record net income)
choose a transaction date
enter an account title to close cash dividends
enter a debit amount
enter a credit amount
enter an account title to close cash dividends
enter a debit amount
enter a credit amount
(To close cash dividends)
choose a transaction date
enter an account title to record payment of cash dividends payable
enter a debit amount
enter a credit amount
enter an account title to record payment of cash dividends payable
enter a debit amount
enter a credit amount
(To record payment of cash dividends payable)
Attempts: 0 of 15 used

Enter the beginning balances in the accounts and post the journal entries to the stockholders’ equity accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.)

Preferred Stock
choose a transaction date
enter a debit amount
choose a transaction date
enter a credit amount
choose the end date of the accounting period
enter a debit balance
choose the end date of the accounting period
enter a credit balance
Common Stock
choose a transaction date
enter a debit amount
choose a transaction date
enter a credit amount
choose a transaction date
enter a debit amount
choose a transaction date
enter a credit amount
choose the end date of the accounting period
enter a debit balance
choose the end date of the accounting period
enter a credit balance
Paid-in Capital in Excess of Par Value—Preferred Stock
choose a transaction date
enter a debit amount
choose a transaction date
enter a credit amount
choose the end date of the accounting period
enter a debit balance
choose the end date of the accounting period
enter a credit balance
Paid-in Capital in Excess of Stated Value—Common Stock
choose a transaction date
enter a debit amount
choose a transaction date
enter a credit amount
choose a transaction date
enter a debit amount
choose a transaction date
enter a credit amount
choose the end date of the accounting period
enter a debit balance
choose the end date of the accounting period
enter a credit balance
Retained Earnings
choose a transaction date
enter a debit amount
choose the beginning date of the accounting period
enter a credit balance
choose a transaction date
enter a debit amount
choose a transaction date
enter a credit amount
choose the end date of the accounting period
enter a debit balance
choose the end date of the accounting period
enter a credit balance
Cash Dividends
choose a transaction date
enter a debit amount
choose a transaction date
enter a credit amount
choose a transaction date
enter a debit amount
choose a transaction date
enter a credit amount
choose the end date of the accounting period
enter a debit balance
choose the end date of the accounting period
enter a credit balance
Treasury Stock
choose the beginning date of the accounting period
enter a debit balance
choose the beginning date of the accounting period
enter a credit balance
choose a transaction date
enter a debit amount
choose a transaction date
enter a credit amount
choose the end date of the accounting period
enter a debit balance
choose the end date of the accounting period
enter a credit balance
Attempts: 0 of 15 used

Prepare the stockholders’ equity section of the balance sheet at December 31, 2022.

INDIGO CORPORATION
Partial Balance Sheet
choose the accounting period
select an opening section name
select an opening subsection name
select a name of the subordinate part one of this subsection
enter a balance sheet item
$enter a dollar amount 
enter a balance sheet item
enter a dollar amount
select a summarizing line for the subordinate part one of this subsection
$enter a subtotal of the two previous amounts 
select a name of the subordinate part two of this subsection
enter a balance sheet item
enter a dollar amount
enter a balance sheet item
enter a dollar amount
select a summarizing line for the subordinate part two of this subsection
enter a subtotal of the two previous amounts
select a closing subsection name
enter a total amount for this subsection
enter a balance sheet item
enter a dollar amount
select a summarizing line for this part of the statement
enter a subtotal amount for this part of the statement
select between addition and deductionenter a balance sheet item 
enter a dollar amount
select a closing section name
$enter a total amount for this section 
Attempts: 0 of 15 used

Calculate 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%.)

Attempts: 0 of 15 used