Healthy Living Co. is an HMO for businesses in the Seattle area. The following account balances appear on the balance sheet of Healthy Living Co.: Common stock (400,000 shares authorized; 300,000 shares issued), $18 par, $5,400,000; Paid-in capital in excess of par—common stock, $1,500,000; and Retained earnings, $78,000,000. The board of directors declared a 5% stockdividend when the market price of the stock was $40 a share. Healthy Living Co. reported no income or loss for the current year.
For a compound transaction, if an amount box does not require an entry, leave it blank. If no entry is required, select "No entry required" from the dropdown.