Instructions Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity accounts of Morrow Enterprises Inc., with balances on January 1, 2015, are as follows: Common Stock, $20 stated value (500,000 shares authorized, 375,000 shares issued) $7,500,000 Paid-In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (25,000 shares, at a cost of $18 per share) The following selected transactions occurred during the year: 825,000 33,600,000 450,000 Jan 22 Paid cash dividends of $0.08 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $28,000. Apr. 10 Issued 75,000 shares of common stock for $24 per share.