At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $12 par value Paid-in capital in excess of par value, common stock Retained earnings $420,000 110,000 320,000 In the fourth quarter, the following entries related to its equity are recorded. Date Oct. 2 General Journal Debit Credit Retained Earnings 60,000 Common Dividend Payable 60,000 Oct. 25 Common Dividend Payable Cash 60,000 60,000 Oct. 31 Retained Earnings 87,000 Common Stock Dividend Distributable 42,000 Paid-In Capital in Excess of Par Value, Common Stock 45,000 Nov. 5 Common Stock Dividend Distributable 42,000 Common Stock, $12 Par Value 42,000 Dec. 1 Memo-Change the title of the common stock account to reflect the new par value of $4. Dec. 31 Income Summary 200,000 Retained Earnings 200,000