On January $1,2020,$ Kingbird Corporation had $$2,090,000$ of $$10$ par value common stock outstanding that was issued at par and

retained earnings of $$1,180,000.$ The company issued $220,000$ shares of common stock at $$12$ per share on July $1.$ On December $15,$

the board of directors declared a $15\%$ stock dividend to stockholders of record on December $31,2020,$ payable on January $15,2021.$

The market value of Kingbird Corporation stock was $$15$ per share on December $15$ and $$16$ per share on December $31.$ Net income

for $2020$ was $$515,000.$

Prepare the stockholders' equity section of the balance sheet for kingbird corporation at December $31,2020$ Prepare the stockholders' equity section of the balance sheet for Kingbird Corporation at December $31,2020.$

KINGBIRD CORPORATION

Balance Sheet $($Partial$)$

December $31,2020$