On January 1, 2022, Concord Corporation had these stockholders' equity accounts. Common Stock ($10 par value, 73,500 shares issued and outstanding) $735,000 Paid-in Capital in Excess of Par Value Retained Earnings 488,500 685,000 During the year, the following transactions occurred. Jan. 15 Feb. 15 Declared a $0.70 cash dividend per share to stockholders of record on January 31, payable February 15. Paid the dividend declared in January. Apr. 15 Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $15 per share. May 15 Issued the shares for the stock dividend. Dec. Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10, 2023. Dec. 31 Determined that net income for the year was $367,000.