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

Common Stock ($10 par value, 75,000 shares issued and outstanding)		$750,000
Paid-in Capital in Excess of Par Value-Common Stock		200,000
Retained Earnings		540,000

During the year, the following transactions occurred.

Jan. 15		Declared a $1 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 $14 per share.
May 15		Issued the shares for the stock dividend.
July 1		Announced a 2-for-1 stock split. The market price per share prior to the announcement was $15. (The new par value is $5.)
Dec. 1		Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10, 2015.
Dec. 31 Determined that the net income for the year was $250,000. (a) Journalize the transactions and the closing entries for net income and dividends. (b) Enter the beginning balances, and post the entries to the stockholders