On January 1, 2025, Monty Corp. had these stockholders' equity accounts. Common Stock ($10 par value, 69,500 shares issued and outstanding) Paid-in Capital in Excess of Par Retained Earnings During the year, the following transactions occurred. Feb. 15 Apr. 15 Jan. 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. 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 $16 per share. Issued the shares for the stock dividend. May 15 $695,000 484,500 Dec. 1 645,000 Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10, 2026. Dec. 31 Determined that net income for the year was $359,000.

On January 1, 2025, Monty Corp. had these stockholders' equity accounts. Common Stock ($10 par value, 69,500 shares issued and outstanding) Paid-in Capital in Excess of Par Retained Earnings During the year, the following transactions occurred. $695,000 484,500 645,000 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 May 15 Dec. 1 Dec. 31 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 $16 per share. Issued the shares for the stock dividend. Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10, 2026. Determined that net income for the year was $359,000.