On January 1,2017, Swifty Corporation had these stockholders' equity accounts. Common Stock ($ 10 par value, 82,000 shares issued and outstanding) Paid-in Capital in Excess of Par Value Retained Earnings $820,000 508,000 640,000 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 $0.70 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 $398,000