On January $1,2022,$ Blue Spruce Corp. had these stockholders' equity accounts.

Common Stock $($ $$10$ par value, $65,500$ shares issued and outstanding$)$ $$655,000$

Paid$-$in Capital in Excess of Par Value

$480,500$

Retained Earnings

$605,000$

During the year, the following transactions occurred.

Jan. $15$ Declared a $$0\mathrm{.}60$ cash dividend per share to stockholders of record on January $31,$ payable February $15.$

Feb. $15$ Paid the dividend declared in January.

Apr. $15$ Declared a $10\%$ stock dividend to stockholders of record on April $30,$ distributable May $15.$ On April $15,$ the market price of the stock was $$15$ per share.

May $15$ Issued the shares for the stock dividend.

Dec. $1$ Declared a $$0\mathrm{.}60$ per share cash dividend to stockholders of record on December $15,$ payable January $10,2023.$

Dec. $31$ Determined that net income for the year was $$351,000.$