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. 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. 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, 2018. Determined that net income for the year was $424,000. Apr. 15 May 15 Dec. 1 Dec. 31