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23 . Exhibit 16 - 1 The Zeller Corporation's stock holders' equity accounts have the following balances as of December 31 , 2014 : Common

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23 . Exhibit 16 - 1 The Zeller Corporation's stock holders' equity accounts have the following balances as of December 31 , 2014 : Common stock , $10 par ( 30 , 000 shares issued and outstanding ) $ 300, 000 Additional paid - in capital 2 , 000 , 000 Retained earnings 5 . 700, 000 Total stockholders' equity $8, 000 , 000 Refer to Exhibit 16 - 1 . On January 2 , 2015 , the board of directors of Zeller declared a 5% stock dividend to be distributed on January 31 , 2015 . The market price per share of Zeller's common stock was $30 on January 2 and $32 on January 31 . As a result of this stock dividend , the retained earnings account should be decreased by

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