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

Common Stock ($26par value,62,000 shares issued and outstanding)$1,612,000. Paid-in Capital in Excess of ParCommon Stock203,000. Retained Earnings569,000

During the year, the following transactions occurred.

Feb.1-Declared a$2cash dividend per share to stockholders of record on February 15, payable March 1.

Mar.1-Paid the dividend declared in February.

Apr.1-Announced a 2-for-1 stock split. Prior to the split, the market price per share was$39.

July1-Declared a15%stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was$14per share.

31-Issued the shares for the stock dividend.

Dec.1-Declared a$0.60per share dividend to stockholders of record on December 15, payable January 5, 2021.

31-Determined that net income for the year was$327,000.

Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note:Open additional stockholders' equity accounts as needed.)