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, $$10$ stated value $(800,000$ shares authorized, $520,000$ shares issued$)$ $$5,200,000$

Paid$-$In Capital in Excess of Stated Value$-$Common Stock $1,000,000$

Retained Earnings $11,800,000$

Treasury Stock $(52,000$ shares, at cost$)780,000$

The following selected transactions occurred during the year:

Jan. $22.$ Paid cash dividends of $$0\mathrm{.}15$ per share on the common stock. The dividend had been properly recorded when declared on December $1$ of the preceding fiscal year for $$70,200.$

Apr. $10.$ Issued $100,000$ shares of common stock for $$1,800,000.$

June $6.$ Sold all of the treasury stock for $$936,000.$

July $5.$ Declared a $4\%$ 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 $33,000$ shares of treasury stock for $$660,000.$

Dec. $28.$ Declared a $$0\mathrm{.}18-$per$-$share dividend on common stock.

$31.$ Closed the credit balance of the income summary account, $$12,272,000.$

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