Problem 11-8AProblem 11-8A On January 1, 2014, Everett Corporation had these stockholders’ equity accounts.Common Stock ($10 par value, 85,500 shares issued and outstanding)$855,000Paid-in Capital...

Problem 11-8AProblem 11-8A On January 1, 2014, Everett Corporation had these stockholders’ equity accounts.Common Stock ($10 par value, 85,500 shares issued and outstanding)$855,000Paid-in Capital in Excess of Par Value519,900Retained Earnings667,800During the year, the following transactions occurred.Jan. 15Declared a $0.50 cash dividend per share to stockholders of record on January 31, payable February 15.Feb. 15Paid the dividend declared in January.Apr. 15Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $13 per share.May 15Issued the shares for the stock dividend.Dec. 1Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10, 2015.Dec. 31Determined that net income for the year was $428,100.