On January $1,2022,$ Blossom Corporation had the following stockholders$$ equity accounts.

Common Stock $($no par value, $93,000$ shares issued and outstanding$)$ $$1,440,000$

Retained Earnings $480,000$

During the year, the following transactions occurred.

Feb. $1$ Declared a $$1$ cash dividend per share to stockholders of record on February $15,$ payable March $1.$

Mar. $1$ Paid the dividend declared in February.

Apr. $1$ Announced a $3-$for$-1$ stock split. Prior to the split, the market price per share was $$36.$

July $1$ Declared a $6\%$ stock dividend to stockholders of record on July $15,$ distributable July $31.$ On July $1,$ the market price of the stock was $$10$ per share.

$31$ Issued the shares for the stock dividend.

Dec. $1$ Declared a $$0\mathrm{.}50$ per share dividend to stockholders of record on December $15,$ payable January $5,2023.$

$31$ Determined that net income for the year was $$390,000.$

$($a$)$

Prepare the stockholders$$ equity section of the balance sheet at March $31.$

Answer rating: 100% (QA)

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