Problem 11-4A On January 1, 2017, Geffrey Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 59,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,416,000 197,000 559,000 During the year, the following transactions occurred Feb. 1 Mar. 1 Apr. 1 July 1 Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1 Paid the dividend declared in February Announced a 2-for-1 stock split. Prior to the split, the market price per share was $39 Declared a 15% stock dividend to stockholders of record on July 15, distributable July 31, On July 1, the market price of the stock was $14 per share Issued the shares for the stock dividend Declared a $0.60 per share dividend to stockholders of record on December 15, payable January 5, 2018 Determined that net income for the year was $332,500 31 Dec. 1 31