On January 1, 2020, Wildhorse Inc. had the following stockholders' equity balances.

Common Stock (420,000 shares issued)	$840,000
Paid-in Capital in Excess of Par-Common Stock	500,000
Common Stock Dividends Distributable	250,000
Retained Earnings	680,000

During 2020, the following transactions and events occurred.

1.		Issued 125,000 shares of $2 par value common stock as a result of 15% stock dividend declared on December 15, 2021.
2.		Issued 62,500 shares of common stock for cash at $4 per share.
3.		Purchased 28,000 shares of common stock for the treasury at $5 per share.
4.		Declared and paid a cash dividend of $111,000.
5.		Sold 5,000 shares of treasury stock for cash at $5 per share.
6.		Earned net income of $420,000.