Dojdes's equity of Cyclone Corporation at January 1 follows: 6 Percent preferred stock, $25 par value, 40,000 shares authorized 20,000 shares issued and outstanding $500,000 Common stock $5 par value, 300,000 shares authorized; 80,000 shares issued and outstanding 400,000 Paid-in capital in excess of par value-Common stock 560,000 Retained earnings 830,000 Total Stockholders Equity $2,290,000 The following transactions, among others, occurred during the year: June 18 Declared a 50 percent stock dividend on all outstanding shares of common stock. The market value of the stock was $14 per share July 1 Iswed the stock dividend declared on June 18 Dec 20 Declared the annual cash dividend on the preferred stock and a cash dividend of $1.30 per share on the common stock, payable on January 20 to stockholders of record on December 28