On January 1, 2020, the Bramble Corp. had $2,060,000 of $10 par value common stock outstanding that was issued at par and Retained Earnings of $1,300,000. The company issued 141,000 shares of common stock at $15 per share on July 1. On December 15, the board of directors declared a 10% stock dividend to stockholders of record on December 31, 2020, payable on January 15, 2021. The market value of Bramble Corp. stock was $17 per share on December 15 and $17 per share on December 31. Net income for 2020 was $500,000.

BRAMBLE CORP. Balance Sheet (Partial) December 31, 2020 Stockholders' Equity ' Paid-in Capital > Capital Stock Common Stock Dividends Distributable > $ 347000 Additional Paid-in Capital