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, 42,000 shares issued and outstanding		420,000
Paid-in capital in excess of par		110,000
Total paid-in capital		780,000
Retained earnings		448,000
Total stockholders' equity

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 $24 a share.
3.		Assume that net income for the year was $131,000 (record the closing entry) and the board of directors appropriated $75,000 of retained earnings for plant expansion.

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

FOLEY CORPORATION Balance Sheet (Partial)
Current AssetsTotal Liabilities and Stockholders' EquityCurrent LiabilitiesTotal AssetsTotal Stockholders' EquityTotal Current LiabilitiesTotal LiabilitiesTotal Current AssetsStockholders' EquityTotal Retained EarningsTotal Paid-in Capital
					$
Total Current AssetsTotal AssetsCurrent LiabilitiesStockholders' EquityCurrent AssetsTotal Retained EarningsTotal Paid-in CapitalTotal Liabilities and Stockholders' EquityTotal LiabilitiesTotal Current LiabilitiesTotal Stockholders' Equity
			$
Total Paid-in CapitalTotal Current LiabilitiesCurrent AssetsTotal Stockholders' EquityTotal LiabilitiesTotal Current AssetsTotal AssetsTotal Liabilities and Stockholders' EquityTotal Retained EarningsStockholders' EquityCurrent Liabilities
Total AssetsTotal Paid-in CapitalCurrent AssetsTotal Current LiabilitiesTotal Liabilities and Stockholders' EquityStockholders' EquityTotal Current AssetsTotal Stockholders' EquityTotal LiabilitiesTotal Retained EarningsCurrent Liabilities					$