Foley Corporation has the following capital structure at the beginning of the year:

4% Preferred stock, $50 par value, 20,000 shares authorized, 5,000 shares issued and outstanding		$250,000
Common stock, $10 par value, 60,000 shares authorized, 41,000 shares issued and outstanding		410,000
Paid-in capital in excess of par		105,000
Total paid-in capital		765,000
Retained earnings		447,000
Total stockholders' equity		$1,212,000

Record the following transactions which occurred consecutively. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

1.		A total cash dividend of $75,000 was declared and payable to stockholders of record. Record dividends payable on common and preferred stock in separate accounts.
2.		A 15% common stock dividend was declared. The average fair value of the common stock is $23 a share.
3.		Assume that net income for the year was $150,000 (record the closing entry) and the board of directors appropriated $71,000 of retained earnings for plant expansion.

No.	Account Titles and Explanation	Debit	Credit
1.
2.
3.
	(To record the closing entries.)
	(To record appropriated retained earnings.)

Construct the stockholders' equity section incorporating all the above information.

FOLEY CORPORATION Balance Sheet (Partial)
Total LiabilitiesTotal Liabilities and Stockholders' EquityTotal Stockholders' EquityTotal Current AssetsTotal Paid-in CapitalTotal Retained EarningsTotal Current LiabilitiesCurrent AssetsCurrent LiabilitiesStockholders' EquityTotal Assets
					$
Total Paid-in Capital Current Assets Total Liabilities and Stockholders' Equity Total Stockholders' Equity Stockholders' Equity Total Retained Earnings Total Liabilities Current Liabilities Total Assets Total Current Assets Total Current Liabilities
			$
Total Current Assets Total Paid-in Capital Total Current Liabilities Total Liabilities Total Retained Earnings Current Assets Total Liabilities and Stockholders' Equity Current Liabilities Total Stockholders' Equity Total Assets Stockholders' Equity
Total Paid-in Capital Total Current Liabilities Total Liabilities and Stockholders' Equity Total Assets Total Current Assets Total Liabilities Total Stockholders' Equity Current Liabilities Total Retained Earnings Current Assets Stockholders' Equity					$