Below is the stockholders equity section of the Withers Corporation balance sheet at the start of business on January 1, 2020: Common Stock: 2,000,000 shares authorized: 40,000 shares of $6 par value sock issued and outstanding: $240,000 Common Stock-Additional Paid-in Capital: $2,160,000 $2,400,000 Retained Earnings: $3,600,000 Total Stockholders Equity $6,000,000 The relevant transactions affecting Withers Stockholders Equity accounts in 2020 were as follows:

Jan. 1: Issued 30,000 shares of $100 Par Value, 3% Preferred Stock

Jan. 2: Declared a 2:1 stock split.

Feb.1: Purchased equipment valued at $295,000 by issuing 10,000 shares of common stock.

Apr.1: Declared and issued a 10% stock dividend when the common share price was $36.

June 1: Reacquired 4,000 shares @ $41 per share.

Dec. 15: Declared a $2 per dividend on the common that will be paid on December 30

. Dec. 30: Paid the December 15th dividend.

Dec. 31: The 2020 net income for Withers was $670,000.

making sure to split the entry on Jan 2