On January 1, 2016, Gerlach Inc. had the following account balances in its shareholders' equity accounts. Common Stock, !1 par, 250,000 shares issued $250,000 Paid in Capital excess of par, common $500,000 Paid in capital excess of par, preferred $100,000 Preferred Stock, $100 par, 10,000 shares outstanding $1,000,000 Retained Earnings, $2,000,000 Treasury Stock, at cost, 5,000 shares $25,000 Record the following transactions relating to common stock: Jan 15: Declared a property dividend of shares of investment in another company, Slowdown Company (book value, $10 per share, market value $9 per share). 100,000 shares. February 17: Distributed the property dividend. April 10: A large stock dividend of 2 for 1 was declared on outstanding common stock. Teh market value of the stock was $4 on this date. July 18: Declared and distributed a 3% stock dividend on outstanding common stock; market value per share, $5. December 1: Declared a fifty cents per share cash dividend on the outstanding common shares. December 20: Paid the cash dividend.