Entries for Selected Corporate Transactions Nav-Go Enterprises Inc. produces aeronautical navigation equipment. Nav-Go Enterprises' stockholders' equity accounts, with balances on January 1, 20Y1, are as follows: Common Stock, $10 stated value (400,000 shares authorized, 260,000 shares issued) $2,600,000 Paid-In Capital in Excess of Stated Value-Common Stock 500,000 Retained Earnings 5,900,000 364,000 Treasury Stock (26,000 shares, at cost) The following selected transactions occurred during the year: Jan. 15. 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 $28,080. Mar. 15. Sold all of the treasury stock for $17 per share. Apt. 13. Issued 50,000 shares of common stock for $900,000. June 14. Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share. July 16. Issued shares of stock for the stock dividend declared on June 14. Oct. 30. Purchased 16,000 shares of treasury stock for $19 per share. Dec. 30. Declared a $0.15-per-share dividend on common stock. 31. Closed the two dividends accounts to Retained Earnings.