Common Stock
		Jan. 1 Bal.	3,400,000
		Apr. 10
		Aug. 15
		Dec. 31 Bal.

Paid-In Capital in Excess of Stated Value-Common Stock
		Jan. 1 Bal.	650,000
		Apr. 10
		July 5
		Dec. 31 Bal.

Retained Earnings
Dec. 31		Jan. 1 Bal.	7,720,000
		Dec. 31
		Dec. 31 Bal.

Treasury Stock
Jan. 1 Bal.	476,000	June 6
Nov. 23
Dec. 31 Bal.

Paid-In Capital from Sale of Treasury Stock
		June 6

Stock Dividends Distributable
Aug. 15		July 5

Stock Dividends
July 5		Dec. 31

Cash Dividends
Dec. 28		Dec. 31

Entries for Selected Corporate Transactions Morrow Enterprises Inc. manufactures bathroom fixtures. Morrow Enterprises' stockholders' equity accounts, with balances on January 1, 20Y6, are as follows: Common Stock, $10 stated value (500,000 shares authorized, 340,000 shares issued) Paid-In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (34,000 shares, at cost) The following selected transactions occurred during the year: $3,400,000 650,000 7,720,000 476,000 Jan. 22. Paid cash dividends of $0.12 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $36,720 Apr. 10. Issued 65,000 shares of common stock for $1,170,000. June 6. Sold all of the treasury stock for $17 per share. July 5. Declared a 5% stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share. Aug. 15. Issued shares of stock for the stock dividend declared on July 5 Nov. 23. Purchased 21,000 shares of treasury stock for $19 per share Dec. 28. Declared a $0.15-per-share dividend on common stock. 31. Closed the credit balance of the income summary account, $8,029,000. 31. Closed the two dividends accounts to Retained Earnings. Required: 1. The January 1 balances have been entered in T accounts for the stockholders' equity accounts. Record the above transactions in the T accounts and provide the December 31 balance where appropriate. If required, round to one decimal place