iew Policies Show Attempt History Current Attempt in Progress On January 1, 2022, Sandhill Corporation had the following stockholders' equity accounts. Common Stock ($20 par value, 63,500 shares issued and outstanding) $1,270,000 Paid-in Capital in Excess of Par-Common Stock 197,000 Retained Earnings 564,000 During the year, the following transactions occurred. Feb. 1 Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 July 1 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $38. Declared a 15% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $15 per share. Issued the shares for the stock dividend. 31 Dec. 1 Declared a $0.60 per share dividend to stockholders of record on December 15, payable January 5, 2023. 31 Determined that net income for the year was $300,500.