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

Common Stock $($ $$10$ par value, $75,000$ shares issued and outstanding$)$

$$750,000$

Paid$-$in Capital in Excess of Par$-$Common Stock

$200,000$

Retained Earnings

$540,000$

During the year, the following transactions occurred.

Jan. $15$ Declared a $$1$ 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 $$14$ per share.

May $15$ Issued the shares for the stock dividend.

July $1$ Announced a $2-$for$-1$ stock split. The market price per share prior to the announcement was $$15.($The new par value is $$5.)$

Dec. $1$ Declared a $$0\mathrm{.}60$ per share cash dividend to stockholders of record on December $15,$ payable January $10,2023.$

Dec $31$ Determined that net income for the year was $$250,000$

$($a$)$