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, $$10$ stated value $(450,000$ shares authorized, $300,000$ shares issued$)$ $$3,000,000$

Paid$-$In Capital in Excess of Stated Value$-$Common Stock $550,000$

Retained Earnings $6,810,000$

Treasury Stock $(30,000$ shares, at a cost of $$15$ per share$)450,000$

The following selected transactions occurred during the year:

Jan. $22.$ Paid cash dividends of $$0\mathrm{.}13$ per share on the common stock. The dividend had been properly recorded when declared on December $1$ of the preceding fiscal year for $$35,100.$

Apr. $10.$ Issued $55,000$ shares of common stock for $$16$ per share.

June $6.$ Sold all of the treasury stock for $$540,000.$

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 $19,000$ shares of treasury stock for $$380,000.$

Dec. $28.$ Declared a $$0\mathrm{.}16-$per$-$share dividend on common stock.

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