Nav-Go Enterprises Inc. produces aeronautical navigation equipment. Nav-Go Enterprises' stockholders equity accounts, with balances on January 1, 20Y1, are as follows:

Common Stock, $10 stated value (350,000 shares authorized, 240,000 shares issued)	$2,400,000
Paid-In Capital in Excess of Stated Value-Common Stock	450,000
Retained Earnings	5,450,000
Treasury Stock (24,000 shares, at cost)	336,000

The following selected transactions occurred during the year:

Jan. 15.	Paid cash dividends of $0.15 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $32,400.
Mar. 15.	Sold all of the treasury stock for $17 per share.
Apr. 13.	Issued 45,000 shares of common stock for $720,000.
June 14.	Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $18 per share.
July 16.	Issued shares of stock for the stock dividend declared on June 14.
Oct. 30.	Purchased 15,000 shares of treasury stock for $19 per share.
Dec. 30.	Declared a $0.18-per-share dividend on common stock.
31.	Closed the two dividends accounts to Retained Earnings.

Required:

1. The January 1 balances have been entered in T accounts for the stockholders' equity accounts. Record the above transactions in the T accounts and provide the December 31 balance where appropriate. If required, round to one decimal place.

Common Stock
		Jan. 1 Bal.	2,400,000
		Apr. 13June 14July 16Dec. 27	fill in the blank 2
		Jan. 22June 14July 16Dec. 30	fill in the blank 4
		Dec. 31 Bal.	fill in the blank 5

Paid-In Capital in Excess of Stated Value-Common Stock
		Jan. 1 Bal.	450,000
		Apr. 13June 14July 16Dec. 30	fill in the blank 7
		June 14July 16July 16Dec. 30	fill in the blank 9
		Dec. 31 Bal.	fill in the blank 10

Retained Earnings
Apr. 13June 14July 16Dec. 31	fill in the blank 12	Jan. 1 Bal.	5,450,000
		Jan. 22June 14Oct. 30Dec. 31	fill in the blank 14
		Dec. 31 Bal.	fill in the blank 15

Treasury Stock
Jan. 1 Bal.	336,000	Apr. 13Mar. 15July 16Dec. 31	fill in the blank 17
Jan. 22June 14Oct. 30Dec. 31	fill in the blank 19
Dec. 31 Bal.	fill in the blank 20

Paid-In Capital from Sale of Treasury Stock
		Mar. 15June 14Oct. 30Dec. 30	fill in the blank 22

Stock Dividends Distributable
Jan. 22July 16Oct. 30Dec. 31	fill in the blank 24	Jan. 22June 14Oct. 30Dec. 31	fill in the blank 26

Stock Dividends
Jan. 22June 14Oct. 30Dec. 31	fill in the blank 28	Jan. 22July 16Oct. 30Dec. 31	fill in the blank 30

Cash Dividends
Jan. 22July 16Oct. 30Dec. 30	fill in the blank 32	Jan. 22July 16Oct. 30Dec. 31	fill in the blank 34

2. Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.

Date	Account	Debit	Credit
Jan. 15	CashCash DividendsCash Dividends PayableCommon StockStock Dividends Distributable	fill in the blank 36	fill in the blank 37
	CashCash DividendsCash Dividends PayableCommon StockStock Dividends	fill in the blank 39	fill in the blank 40

Mar. 15. Sold all of the treasury stock for $17 per share.

Date	Account	Debit	Credit
Mar. 15	CashCommon StockPaid-In Capital in Excess of Stated Value-Common StockRetained EarningsTreasury Stock	fill in the blank 42	fill in the blank 43
	CashCommon StockPaid-In Capital in Excess of Stated Value-Common StockRetained EarningsTreasury Stock	fill in the blank 45	fill in the blank 46
	Common StockPaid-In Capital from Sale of Treasury StockPreferred StockRetained EarningsStock Dividends Distributable	fill in the blank 48	fill in the blank 49

Apr. 13. Issued 45,000 shares of common stock for $720,000

Date	Account	Debit	Credit
Apr. 13	CashCommon StockPaid-In Capital from Sale of Treasury StockPaid-In Capital in Excess of Stated Value-Common StockTreasury Stock	fill in the blank 51	fill in the blank 52
	CashCash DividendsCommon StockStock DividendsTreasury Stock	fill in the blank 54	fill in the blank 55
	CashCash Dividends PayablePaid-In Capital from Sale of Treasury StockPaid-In Capital in Excess of Stated Value-Common StockPreferred Stock	fill in the blank 57	fill in the blank 58

June 14. Declared a 4% on common stock, to be capitalized at the market price of the stock, which is $18 per share.

Date	Account	Debit	Credit
June 14	CashCommon StockPaid-In Capital in Excess of Stated Value-Common StockStock DividendsStock Dividends Distributable	fill in the blank 60	fill in the blank 61
	CashCommon StockPaid-in Capital from Sale of Treasury StockStock Dividends DistributableTreasury Stock	fill in the blank 63	fill in the blank 64
	CashCash DividendsPaid-In Capital in Excess of Stated Value-Common StockStock DividendsTreasury Stock	fill in the blank 66	fill in the blank 67

July 16. Issued stock for stock dividend declared on June 14.

Date	Account	Debit	Credit
July 16	CashCash Dividends PayableCommon StockStock DividendsStock Dividends Distributable	fill in the blank 69	fill in the blank 70
	CashCash Dividends PayableCommon StockStock DividendsStock Dividends Distributable	fill in the blank 72	fill in the blank 73

Oct. 30. Purchased 15,000 shares of treasury stock for $19 per share.

Date	Account	Debit	Credit
Oct. 30	CashCommon StockPaid-In Capital from Sale of Treasury StockStock DividendsTreasury Stock	fill in the blank 75	fill in the blank 76
	CashCommon StockPaid-In Capital from Sale of Treasury StockStock Dividends DistributableTreasury Stock	fill in the blank 78	fill in the blank 79

Dec. 30. Declared a $0.18-per-share dividend on common stock.

Date	Account	Debit	Credit
Dec. 30	CashCash DividendsCash Dividends PayableCommon StockTreasury Stock	fill in the blank 81	fill in the blank 82
	CashCash Dividends PayableCommon StockStock DividendsStock Dividends Distributable	fill in the blank 84	fill in the blank 85

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

Date	Account	Debit	Credit
Dec. 31	CashCash DividendsRetained EarningsStock DividendsStock Dividends Distributable	fill in the blank 87	fill in the blank 88
	CashCommon StockRetained EarningsStock DividendsStock Dividends Distributable	fill in the blank 90	fill in the blank 91
	CashCash DividendsIncome SummaryRetained EarningsTreasury Stock	fill in the blank 93

Jan. 15. Paid cash dividends of $0.15 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $32,400.

3. Prepare a statement of stockholders equity for the year ended December 31, 20Y1. Assume that net income was $5,668,000 for the year ended December 31, 20Y1. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank or enter 0.

4. Prepare the Stockholders Equity section of the December 31, 20Y1, balance sheet. For those boxes in which you must enter subtracted or negative numbers use a minus sign.