On November 1, 2010, Neely Corporation's stockholders' equity section is as follows:
Common stock, $10 par value.................................$600,000
Paid-in capital in excess of par value...........................180,000
Retained earnings.................................................200,000
Total stockholders' equity......................................$980,000
On November 1, Neely declares and distributes a 15% stock dividend when the market value of the stock is $14 per share.
Instructions
Indicate the balances in the stockholders' equity accounts after the stock dividend has been distributed. (Value 15 points)