On December 31, 2020, Sheridan Corporation had the following shareholders' equity accounts: SHERIDAN CORPORATION Balance Sheet (partial) December 31, 2020 Shareholders' equity Common shares (unlimited number of shares authorized, 91,000 issued) Retained earnings Total shareholders' equity $1,149,000 550,000 $1,699,000 During the year, the following transactions occurred: Jan. 15 Declared a $1 per share cash dividend to shareholders of record on January 31, payable February 15. July 1 Announced a 3-for-2 stock split. The market price per share on the date of the announcement was $12. Dec. 15 Declared a 15% stock dividend to shareholders of record on December 30, distributable on January 15. On December 15, the market price of each share was $8; on December 30, $11; and on January 15, $10. 31 Determined that profit before income tax for the year was $462,000. The company has a 35% income tax rate