Book Calculator Entries for selected Corporate Transactions Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity accounts of Morrow Enterprises Inc., with balance on January 1, 2045, are as follow Common Stock. $10 stated value (500,000 shares authorized, 340,000 shares issued) $3,400.000 Pand-In Capital in Excess of stated Value-Common Stock 650,000 Retained Earnings 7,720.000 Treasury Stock (34,000 shares, at cost) 476,000 The following selected transactions occurred during the years Jan. 22. Paid cash dividends of $0.15 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $45,900. Apr. 10. Issued 65.000 shares of common stock for $1.040.000 June 6. Sold all of the treasury stock for $578,000 July 5. Declared a stock dividend on common stock, to be capitalized at the market price of the stock, which is $18 per share. Aug. 15. Issued the certificates for the dividend declared on July 5. Nov. 23. Purchased 21,000 shares of treasury stock for $399,000. Dec. 28. Declared a $0.18-per-share dividend on common stock. 31. Closed the credit balance of the income summary account, 58,029.000. 31. Closed the two dividends accounts to Retained Earnings Required: 1. The January 1 balances have been entered in accounts for the stockholders' uity accounts. Record the above transactions in the Taccounts and provide the December 31 balance where appropriate Common Stock 3.400.000 650.000 Jan. 1 Bal Apr. 10 Aug. 15 Dec. 31 Bal 199,500 X 4,189.500 X Pald-In Capital in Excess of stated Value-Common Stock San. 1 Bal. Apr. 10 / Julys 650.000 390,000 159,000 Dec 31