PRINTER VERSION BAC Problem 11-7A (Part Level Submission) On January 1, 2017, Primo Corporation had the following stockholders' equity accounts Common Stock ($10 par value, 75,000 shares issued and outatanding) $750,000 Paid-in Capital in Excess of Par Value-Common Stock Retained Earnings 200,000 540,000 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 30, distributable May 15. On April 15, the market price of the stock was $14 per share. stock dividend. uly 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.) bec. 1 Declared a so.6 per share cash dividend to stockholders ofcod on ecember 15, payable January 10, 2018. Dec. 31 Determined that net income for the year was $250,000