Current Attempt in Progress Oriole Company's stockholders' equity section at December 31, 2019, appears below: Stockholder's equity Paid-in capital Common stock, $10 par, 68,000 outstanding $680,000 Paid-in capital in excess of par 173,000 Total paid-in capital $853,000 Retained earnings 159,000 Total stockholder's equity $1,012,000 On June 30, 2020, the board of directors of Oriole Company declared a 15% stock dividend, payable on July 31, 2020, to stockholders of record on July 15, 2020. The fair value of Oriole Company's stock on June 30, 2020, was $16. On December 1, 2020, the board of directors declared a 2-for-1 stock split effective December 15, 2020. Oriole Company's stock was selling for $18 on December 1, 2020, before the stock split was declared. Par value of the stock was adjusted. Net income for 2020 was $223,000 and there were no cash dividends declared.