Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity accounts of Morrow Enterprises Inc., with balances on January 1, 20Y5, are as follows:

Common Stock, $10 stated value (550,000 shares authorized, 380,000 shares issued)	$3,800,000
Paid-In Capital in Excess of Stated Value-Common Stock	700,000
Retained Earnings	8,630,000
Treasury Stock (38,000 shares, at a cost of $15 per share)	570,000

The following selected transactions occurred during the year:

Jan. 22.	Paid cash dividends of $0.12 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $41,040.
Apr. 10.	Issued 70,000 shares of common stock for $18 per share.
June 6.	Sold all of the treasury stock for $684,000.
July 5.	Declared a 5% stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share.
Aug. 15.	Issued the certificates for the dividend declared on July 5.
Nov. 23.	Purchased 24,000 shares of treasury stock for $480,000.
Dec. 28.	Declared a $0.15-per-share dividend on common stock.
31.	Closed the two dividends accounts to Retained Earnings.

Common Stock
		Jan. 1 Bal.
		Apr. 10
		Aug 15
		Dec. 31 Bal.

Paid-In Capital in Excess of Stated Value-Common Stock
		Jan. 1 Bal.	700,000
		Apr. 10
		July 5
		Dec. 31 Bal.

Retained Earnings
Dec. 31		Jan. 1 Bal.	8,630,000
		Dec. 31
		Dec. 31 Bal.

Treasury Stock
Jan. 1 Bal.	570,000	June 6
Nov. 23
Dec. 31 Bal.

Paid-In Capital from Sale of Treasury Stock
		June 6

Stock Dividends Distributable
Aug. 15		July 5

Stock Dividends
July 5		Dec. 31

Cash Dividends
Dec. 28		Dec. 31

net income not provided in question,