The stockholders' equity section of Jun Company's balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 20% stock dividend. The stock's per share market value on April 2 is $15 (prior to the dividend).

JUN COMPANY STOCKHOLDERS' EQUITY APR 2 (BEFORE THE DIVIDEND) Common stock-$5 par value, 475,000 shares authorized, 250,000 shares issued and outstanding $1,250,000.00 Paid-in capital in excess of par value, common stock 590,000.00 Retained earnings 883,000.00 Total stockholders' equity $2,723,000.00