Jungle Corporation’s stockholders’ equity section at December 31, 2017 appears b

Question

Jungle Corporation’s stockholders’ equity section at December 31, 2017 appears below:
        

On June 30, 2018, the board of directors of Kenner Corporation declared a 15% stock dividend, payable on July 31, 2018, to stockholders of record on July 15, 2018. The fair value of Kenner Corporation’s stock on June 30, 2018, was $15.

On December 1, 2018, the board of directors declared a 2 for 1 stock split effective December 15, 2018. Jungle Corporation’s stock was selling for $20 on December 1, 2018, before the stock split was declared. Par value of the stock was adjusted. Net income for 2018 was $190,000 and there were no cash dividends declared.

Stockholder's equity Paid-in capital Common stock, $10 par, 60,000 outstanding $600,000 Paid-in capital in excess of par 150,000 Total paid-in capital $750,000 Retained earnings 150,000 Total stockholder's equity $900,000

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