At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $14 par value Paid-in capital in excess of par value, common stock Retained earnings $480,000 80,000 340,000 In the fourth quarter, the following entries related to its equity are recorded. Date Oct. 2 Retained Earnings General Journal Common Dividend Payable Check m Debit Credit 50,000 50,000 Oct. 25 Common Dividend Payable 50,000 Cash 50,000 Oct. 31 Retained Earnings 71,000 Common Stock Dividend Distributable 34,000 Paid-In Capital in Excess of Par Value, Common Stock 37,000 Nov. 5 Common Stock Dividend Distributable 34,000 Common Stock, $14 Par Value 34,000 Dec. 1 Memo-Change the title of the common stock account to reflect the new par value of $4. Dec. 31 Income Summary 230,000 Retained Earnings 230,000