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Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity accounts of Morrow Enterprises Inc., with balances on January 1 , 2 0 Y 5 ,

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 (700,000 shares authorized, 460,000 shares issued) $4,600,000
Paid-In Capital in Excess of Stated Value-Common Stock 850,000
Retained Earnings 10,440,000
Treasury Stock (46,000 shares, at a cost of $15 per share)690,000
The following selected transactions occurred during the year:
Jan. 22. Paid cash dividends of $0.14 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $57,960.
Apr. 10. Issued 85,000 shares of common stock for $16 per share.
June 6. Sold all of the treasury stock for $828,000.
July 5. Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $18 per share.
Aug. 15. Issued the certificates for the dividend declared on July 5.
Nov. 23. Purchased 29,000 shares of treasury stock for $580,000.
Dec. 28. Declared a $0.17-per-share dividend on common stock.
31. Closed the two dividends accounts to Retained Earnings.Paid-In Capital in Excess of Stated Value-Common Stock
Retained Earnings
Paid-In Capital from Sale of Treasury Stock
Stock Dividends Distributable
Stock Dividends
Cash Dividends
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