Advanced Life Co$.$ is an HMO for businesses in the Albuquerque area. The following account balances appear on the balance sheet of Advanced Life Co$.$: Common stock $(1,000,000$ shares authorized; $480,000$ shares issued$),$ $$4$ par, $$1,920,000$; Paid$-$in capital in excess of par$$common stock, $$800,000$; and Retained earnings, $$34,350,000.$ The board of directors declared a $3\%$ stock dividend when the market price of the stock was $$13$ a share. Advanced Life Co$.$ reported no income or loss for the current year.