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

5% preferred stock, $50 par value, 20,000 shares authorized, 6,000 shares issued and outstanding $300,000

Common stock, $10 par value, 60,000 shares authorized, 40,000 shares issued and outstanding 400,000

Paid in capital in excess of par 100,000

Total paid in capital 810,000

Retained earnings 440,000

Total stockholders' equity $1,250,000

Record the following transactions which occurred consecutively (show all Calculations)

1. A total cash dividend of $90,000 was declared and payable to stockholders of record. Record dividends payable on common and preferred stock

2. A %15 common stock divide was declared. The fair value of the common stock is $25 per share.

3. Net INcome for the year was $160,000

4. A %30 common stock dividend was declared. The fair value of the common stock is $30 per share. Prepare in good form (i.e resembling the above), the stockholders' equity section after the activity above