The stockholders equity of TVX Company at the beginning of the day on February 5 follows.

Common stock$10 par value, 150,000 shares authorized, 60,000 shares issued and outstanding	$	600,000
Paid-in capital in excess of par value, common stock		425,000
Retained earnings		550,000
Total stockholders equity	$	1,575,000

On February 5, the directors declare a 20% stock dividend distributable on February 28 to the February 15 stockholders of record. The stocks market value is $40 per share on February 5 before the stock dividend.

2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)