Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders$$ equity accounts of Morrow Enterprises Inc., with balances on January $1,20$Y$5,$ are as follows:

Common stock, $$20$ stated value $(500,000$ shares authorized, $367,000$ shares issued$)$ $$7,340,000$

Paid$-$In Capital in Excess of Stated Value$$Common Stock $844,100$

Retained Earnings $33,388,000$

Treasury Stock $(22,800$ shares, at a cost of $$17$ per share$)387,600$

The following selected transactions occurred during the year:

Jan. $22$ Paid cash dividends of $$0\mathrm{.}09$ per share on the common stock. The dividend had been properly recorded when declared on December $1$ of the preceding fiscal year for $$30,978.$

Apr. $10$ Issued $71,000$ shares of common stock for $$23$ per share.

Jun. $6$ Sold all of the treasury stock for $$27$ per share.

Jul. $5$ Declared a $3\%$ stock dividend on common stock, to be capitalized at the market price of the stock, which is $$26$ per share.

Aug. $15$ Issued the certificates for the dividend declared on July $5.$

Nov. $23$ Purchased $28,000$ shares of treasury stock for $$18$ per share.

Dec. $28$ Declared a $$0\mathrm{.}09-$per$-$share dividend on common stock.

$31$ Closed the two dividends accounts to Retained Earnings.

d$.$ Prepare the Stockholders$$ Equity section of the December $31,20$Y$5,$ balance sheet. Refer to the chart of accounts and the lists of Labels and Amount Descriptions for the exact wording of text entries. For those boxes in which you must enter subtractive or negative numbers, use a minus sign.