PR 13-4B Entries for selected corporate transactions OBJ. 3, 4, 5, 6 Nav-Go Enterprises Inc. produces aeronautical navigation equipment. The stockholders' equity accounts of Nav-Go Enterprises Inc., with balances on January 1, 2014, are as follows: Common Stock, $5 stated value (900,000 shares authorized, 620,000 shares Issued). Paid-In Capital in Excess of Stated Value-Common Stock. Retained Earnings Treasury Stock (48,000 shares, at cost) The following selected transactions occurred during the year. $3,100,000 1,240,000 4,875,000 288,000 Jan. 15. Paid cash dividends of $0.06 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $34,320. Mar. 15. Sold all of the treasury stock for $6.75 per share. Apr. 13. Issued 200,000 shares of common stock for $8 per share. June 14. Declared a 3% stock dividend on common stock, to be capitalized at the market price of the stock, which is $7.50 per share. July 16. Issued the certificates for the dividend declared on June 14. Oct. 30. Purchased 50,000 shares of treasury stock for $6 per share. Dec. 30. Declared a $0.08-per-share dividend on common stock. 31. Closed the credit balance of the income summary account, $775,000. 31. Closed the two dividends accounts to Retained Earnings.