Question
On January 1, 2022, Blue Spruce Corp. had the following stockholders' equity accounts. Common Stock ($14 par value, 77,300 shares issued and outstanding) Paid-in
On January 1, 2022, Blue Spruce Corp. had the following stockholders' equity accounts. Common Stock ($14 par value, 77,300 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings During the year, the following transactions occurred. $1,082,200 203,000 581,000 Jan. 15 Declared a $1 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Apr. 15 Paid the dividend declared in January. Declared a 5% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $16 per share. May 15 Issued the shares for the stock dividend. July 1 Dec. 1 Dec. 31 Announced a 2-for-1 stock split. The market price per share prior to the announcement was $13. (The new par value is $7.) Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10, 2023. Determined that net income for the year was $225,000.
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