The Able Corporation had stockholders' equity on December 31, 1989, as follows: Common stock, $5 par, 3,000,000 shares authorized, 500,000 shares issued $20,500,000 Contributed capital in excess of par, common stock 1,000,000. Retained earnings 3,000,000 The following transactions occurred during the year: The following transactions occurred during the year: Feb. 15 The board of directors declared a 5% stock dividend to stockholders of record on March 1, payable March 20. The stock was selling for $6 a share. Mar. 12 Paid the stock dividend. May 1 A cash dividend of $1.10 per share was declared by the; board of directors to stockholders of record on May 20, payable June 1. Paid the cash dividend. Aug. 20 The board decided to split the stock 4 for 1 effective September 1. Dec. 31 Earned a net income of $800,000 for the year. Instructions