On January 1, 2014, Everett Corporation had these stockholders equity accounts.

Common Stock ($10 par value, 80,800 shares issued and outstanding) $808,000

Paid-in Capital in Excess of Par Value 512,200

Retained Earnings 699,800

During the year, the following transactions occurred.

Jan. 15 Declared a $0.60 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 $0.50 per share cash dividend to stockholders of record on December 15, payable January 10, 2015.

Dec. 31 Determined that net income for the year was $418,700.

Journal Entries and balance of equity