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On January 1,2022, Cullumber Corporation had the following stockholders' equity accounts. Common Stock...

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Accounting

On January 1,2022, Cullumber Corporation had the following stockholders' equity accounts.
Common Stock ( $4 par value, 59,000 shares issued and outstanding) $1,416,000
Paid-in Capital in Excess of Par-Common Stock
197,000
Retained Earnings
559,000
During the year, the following transactions occurred.
Feb. 1 Declared a $3 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 2-for-1 stock split. Prior to the split, the market price per share was $39.
July 1 Declared a 15% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $14 per share.
31 Issued the shares for the stock dividend.
Dec. 1 Declared a $0.60 per share dividend to stockholders of record on December 15, payable January 5,2023.
31 Determined that net income for the vear was $332.500.
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