On January 1, 2022, Pina Colada Corp. had the following stockholders' equity accounts. Common Stock ($10 par value, 80,500 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings During the year, the following transactions occurred. $805,000 211,000 548,000 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 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. July 1 Dec. 1 Dec. 31 Announced a 2-for-1 stock split. The market price per share prior to the announcement was $15. (The new par value is $5.) Declared a $0.50 per share cash dividend to stockholders of record on December 15, payable January 10, 2023. Determined that net income for the year was $245,000.