Zephyr Company reports the following components of stockholders equity on January 1.

Common stock$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding	$	500,000
Paid-in capital in excess of par value, common stock		75,000
Retained earnings		410,000
Total stockholders' equity	$	985,000

During the year, the following transactions affected its stockholders equity accounts.

Jan.		2		Purchased 5,000 shares of its own stock at $23 cash per share.
Jan.		5		Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record.
Feb.		28		Paid the dividend declared on January 5.
July		6		Sold 1,900 of its treasury shares at $27 cash per share.
Aug.		22		Sold 3,100 of its treasury shares at $20 cash per share.
Sept.		5		Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record.
Oct.		28		Paid the dividend declared on September 5.
Dec.		31		Closed the $407,000 credit balance (from net income) in the Income Summary account to Retained Earnings.

No	Date	Account Title	Debit	Credit
1	Jan 02	Treasury stock, Common	115,000
		Cash		115,000
2	Jan 05	Retained earnings
		Common dividend payable
3	Feb 28	Common dividend payable
		Cash
4	Jul 06	Cash
		Treasury stock, Common
		Paid-in capital, Treasury stock
5	Aug 22	Cash
		Paid-in capital, Treasury stock
		Retained earnings
		Treasury stock, Common
6	Sep 05	Retained earnings
		Common dividend payable
7	Oct 28	Common dividend payable
		Cash
8	Dec 31	Income summary
		Retained earnings