PR 13-4A Entries for selected corporate transactions OBJ. 3, 4, 5, Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity ac counts of Morrow Enterprises Inc., with balances on January 1, 2016, are as follows: Common Stock, $20 stated value (500,000 shares authorized, 375,000 shares issued)... Paid-In Capital in Excess of Stated Value-Common Stock.. Retained Earnings Treasury Stock (25,000 shares, at cost) The following selected transactions occurred during the year: $ 7,500,000 825,000 33,600,000 450,000 Jan. 22. Paid cash dividends of $0.08 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $28,000. Apr. 10. June 6. July 5. Issued 75,000 shares of common stock for $24 per share. Sold all of the treasury stock for $26 per share. Declared a 4% stock dividend on common stock, to be capitalized at the mar- ket price of the stock, which is $25 per share. Aug. 15. Issued the certificates for the dividend declared on July 5. Nov. 23. Purchased 30,000 shares of treasury stock for $19 per share. Dec. 28. Declared a $0.10-per-share dividend on common stock. 31. Closed the credit balance of the income summary account, $1,125,000. 31. Closed the two dividends accounts to Retained Earnings