On January 1, 2014, Geffrey Corporation had the following stockholders' equity accounts.

Common Stock ($22par value,64,000 shares issued and outstanding)$1,408,000

Paid-in Capital in Excess of Par?Common Stock190,900

Retained Earnings566,700

During the year, the following transactions occurred.

Feb.1 Declared a$1cash dividend per share to stockholders of record on February 15, payable March 1.

Mar.1Paid the dividend declared in February.

Apr.1Announced a 2-for-1 stock split. Prior to the split, the market price per share was$37.

July1Declared a14%stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was$15per share.

31Issued the shares for the stock dividend.

Dec.1Declared a$0.50per share dividend to stockholders of record on December 15, payable January 5, 2015.

31Determined that net income for the year was$388,000.

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