Common stock$10 par value, 150,000 shares authorized, 72,000 shares issued and outstanding	$	720,000
Paid-in capital in excess of par value, common stock		525,000
Retained earnings		675,000
Total stockholders equity	$	1,920,000

On February 5, the directors declare a 12% stock dividend distributable on February 28 to the February 15 stockholders of record. The stocks market value is $45 per share on February 5 before the stock dividend. The stocks market value is $40 per share on February 28.