nstructions

Idvanced Life Co$.$: Common stock $(1,000,000$ shares authorized; $500,000$ shares issued$),$ $$4$ par, $$2,000,000$; Paid$-$in capital in xcess of par$-$common stock, $$900,000$; and Retained earnings, $$33,875,000.$ The board of directors declared a $3\%$ stock dividend ven the market price of the stock was $$14$ a share. Advanced Life Co$.$ reported no income or loss for the current year.