Morrow Enterprises Inc. manufactures bathroom fixtures. Morrow Enterprises' stockholders' equity accounts, with balances on January 1, 20Y6, are as follows: Common stock, $20 stated value (500,000 shares authorized, 352,000 shares issued) 7,040,000 Paid-In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (25,200 shares, at cost) 774,400 32,153,000 478,800 The following selected transactions occurred during the year: Jan. 22 Paid cash dividends of $0.05 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $16,340. Issued 73,000 shares of common stock for $25 per share. Sold all of the treasury stock for $27 per share Declared a 5% stock dividend on common stock, to be capitalized at the market price of the stock, which is $25 per share. Apr. Jun Jul. 10 6 5 Aug. 15 Issued the certificates for the dividend declared on July 5 Nov. 23 Purchased 25,000 shares of treasury stock for $18 per share. Morrow Enterprises Inc. manufactures bathroom fixtures. Morrow Enterprises' stockholders' equity accounts, with balances on January 1, 20Y6, are as follows: Common stock, $20 stated value (500,000 shares authorized, 352,000 shares issued) 7,040,000 Paid-In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (25,200 shares, at cost) 774,400 32,153,000 478,800 The following selected transactions occurred during the year: Jan. 22 Paid cash dividends of $0.05 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $16,340. Issued 73,000 shares of common stock for $25 per share. Sold all of the treasury stock for $27 per share Declared a 5% stock dividend on common stock, to be capitalized at the market price of the stock, which is $25 per share. Apr. Jun Jul. 10 6 5 Aug. 15 Issued the certificates for the dividend declared on July 5 Nov. 23 Purchased 25,000 shares of treasury stock for $18 per share