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On January 1,2017, Blue Spruce Corp. had these stockholders' equity accounts. Common Stock($10 par value, 72,500 shares issued and outstanding) Paid-in Capital in Excess of

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On January 1,2017, Blue Spruce Corp. had these stockholders' equity accounts. Common Stock($10 par value, 72,500 shares issued and outstanding) Paid-in Capital in Excess of Par Value Retained Earnings $725,000 519,500 645,000 During the year, the following transactions occurred. Jan. 15 Declared a $ 0.70 cash dividend per share to stockholders of record on January 31, payable February 15 Feb. 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 $ 14 per share May 15 Issued the shares for the stock dividend. Dec. 1 Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10, 2018. Dec. 31 Determined that net income for the year was $424,000

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