The stockholders Equity section of the balance sheet of lim Mills incorporated as of December 31st 2010 was as follows:

contributed capital

common stock $3 par value 1 million shares authorized 80000 shares issued and outstanding $240,000

additional paid in capital $75,000

total contributed capital $315,000

retained earnings $240,000

total stockholders equity $555,000.

A review of the stockholders Equity records of lim Mills Incorporated disclosed the following transactions during 2011:

March 25th the board of directors declared a 5% stock dividend to stockholders of record on April 20th to be distributed on May 1. The market value of the common stock was $21 per share.

On April 20th date of record for stock dividend.

On May one issued stock dividend.

On September 10th declare a 3 for 1 stock split.

On December 15th declared a 10% stock dividend to stockholders of record on January 15th to be distributed on February 15th. The market price on this date is $9 per share.

1. record the stockholders Equity components of the transactions for Lim Mills Incorporated in T accounts.

2. Prepare the stockholders Equity section of the company's balance sheet as of December 31st 2011. Assume net income for 2011 is $494,000.