On January 1, 2017, Concord Corporation had these stockholders'equity accounts. Common Stock (S 10 par value, 75,500 shares issued and outstanding) Paid-in Capital in Excess of Par Value Retained Earnings $755,000 484,500 685,000 During the year, the following transactions occurred. Jan. 15 Declared a $0.40 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, OnApril 15,the market price ofthe stockwasS14pershare. May 15 Issued the shares for the stock dividend. Dec. 1 Declared a S0.60 per share cash dividend to stockholders of record on December 15. payable January 10, 2018. Dec. 31 Determined that net income for the year was $413,000