On January 1, 2020, Cullumber Corporation had the following stockholders' equity accounts.

Common Stock ($20par value,62,000 shares issued and outstanding)$1,240,000Paid-in Capital in Excess of ParCommon Stock191,000Retained Earnings636,000

During the year, the following transactions occurred.

Feb.1Declared a$2cash 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$35.July1Declared a15%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, 2021.31Determined that net income for the year was$386,000.