The stockholders' equity section of Reston Corporation's balance sheet as of December 31, 2003 is as follows:

The stockholders' equity section of Reston Corporation's balance sheet as of December 31, 2003 is as follows:Stockholders' EquityCommon stock, $5 par value; authorized, 2,000,000 shares; issued, 400,000 shares$2,000,000Paid-in capital in excess of par850,000Retained earnings 3,000,000$5,850,000The following events occurred during 2004:1.Jan. 510,000 shares of authorized and unissued common stock were sold for $9 per share.2.Jan. 16Declared a cash dividend of 40 cents per share, payable February 15 to stock-holders of record on February 5.3.Feb. 1040,000 shares of authorized and unissued common stock were sold for $11 per share.4.March 1A 40% stock dividend was declared and issued. Market value per share is currently $15.5.April 1A two-for-one split was carried out. The par value of the stock was to be reduced to $2.50 per share. Market value on March 31 was $18 per share.6.July 1A 10% stock dividend was declared and issued. Market value is currently $10 per share.7.Aug. 1A cash dividend of 40 cents per share was declared, payable September 1 to stockholders of record on August 21.InstructionsEnter the above events into the following work sheet showing how each event affects the column. Event No. 1 will serve as an example.Common StockNo. ofTotalPaid-in Capital InItemShares Issued Par Value Excess of ParRetained EarningsBeginning Balance—1/1/04400,000$2,000,000$850,000$3,000,000-0-Balance410,000$2,050,000$890,000$3,000,000Event # 2—Jan. 16 (and events 3 through 7)