Common Stock Date Explanation Ref. Debit Credit May 15 Balance Paid-in Capital in Excess of Par-Common Stock Date Explanation Ref. Apr. 15 Balance Retained Earnings Debit Credit Date Explanation Ref. Debit Credit Balance 0000 Cash dividends Stock dividends Net income Cash Dividends Date Explanation Ref. Debit Jan. 15 Dec. 1 Dec. 31 + Stock Dividends Date Explanation Ref. Debit Apr. 15 Dec. 31 Common Stock Dividends Distributable Date Explanation Ref. Credit 75000 63000 56250 Credit Debit Credit 138000 56250