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Problem 11-8A

On January 1, 2014, Everett Corporation had these stockholders equity accounts.

Common Stock ($10 par value, 87,500 shares issued and outstanding)		$875,000
Paid-in Capital in Excess of Par Value		513,500
Retained Earnings		609,100

During the year, the following transactions occurred.

Jan. 15		Declared a $0.50 cash dividend per share to stockholders of record on January 31, payable February 15.
Feb. 15		Paid the dividend declared in January.
Apr. 15		Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $15 per share.
May 15		Issued the shares for the stock dividend.
Dec. 1		Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10, 2015.
Dec. 31		Determined that net income for the year was $424,900.

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