The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2017 is as follows: Stockholders' Equity Common stock. $5 par value; authorized, 1,800,000 shares; issued, 360,000 shares $1.800,000 Paid-in capital in excess of par 838,000 Retained earnings 3,020,000 $5,658,000 The following events occurred during 2018: 1. Jan.5 29.000 shares of authorized and unissued common stock were sold for $8 per share. 2. Jan. 16 Declared a cash dividend of 20 cents per share, payable February 15 to stock holders of record on February 5. 3. Feb. 10 40,000 shares of authorized and unissued common stock were sold for $12 per share. 4 March 1 A 30% stock dividend was declared and issued. Fair value per share is currently $16. 5. April 1 A twofor-one split was carried out. The par value of the stock was to be reduced to $2.50 per share. Fair value on March 31 was $18 per share. 6. July 1 A 15% stock dividend was declared and issued. Fair value is currently $10 per share. 7. Aug. 1 A cash dividend of 20 cents per share was declared, payable September 1 to stockholders of record on August 21. No. of Shares Issued Common Stock Total Par Value Item Beginning Balance-1/1/18 Pald-in Capital in Excess of Par Retained Earnings Event #1 - Jan. 5 Balance Event # 2-Jan. 16 Balance Event #3-Feb. 10 Balance Event #4-March 1 Balance Event #5-April 1 Balance Event #6- July 1 Balance Event #7-Aug. 1 Balance