Instructions Nav-Go Enterprises Inc. produces aeronautical navigation equipment. The stockholders' equity accounts of Nav-Go Enterprises Inc., with balances on January 1, 2016, are as follows: Common Stock, $5 stated value (900,000 shares authorized, 620,000 shares issued) Paid-In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (48,000 shares, at cost) $3,100,000 1,240,000 4,875,000 288,000 The following selected transactions occurred during the year: Jan. 15 Paid cash dividends of $0.06 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $34,320. Sold all of the treasury stock for $6.75 per share. Issued 200,000 shares of common stock for $8 per share. Declared a 3% stock dividend on common stock, to be capitalized at the market price of the stock, which is $7.50 per share. Issued the certificates for the dividend declared on June 14. Mar. Apr. Jun, 15 13 14 Jul. 16