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Arabian Gulf Corporation reports the following stockholders' equity section on December 31, 2020 Common stock; $10 par value; 500,000 shares authorized; 200,000 shares issued and outstanding - Paid in capital in excess of par value, common stock .....$ 2,000,000 ..400,000 900,000 Retained earnings.... Total $3,300,000 The Corporation completed the following transactions in 2021. 1- Jan 10, Directors declared a $1 per share cash dividend payable on March 15 to the Jan. 31 stockholders of record 2- Mar 01, Purchased 10,000 shares of its own common for $15 per share 3- Mar 15, Paid the cash dividend declared on Jan 10. 4-May 01, Sold 6,000 of its treasury shares at $15 cash per share. 5- Sep 30, Directors declared a 30% stock dividend when the share market price is $16. 6- Nov 01, Distributed stock dividends declared on Sep 30 7- Nov 15, The company implemented 5-for-1 stock split for the common stock. Required: Prepare journal entries to record each of these transactions for 2021 Arabian Gulf Corporation reports the following stockholders' equity section on December 31, 2020 Common stock; $10 par value; 500,000 shares authorized; 200,000 shares issued and outstanding - Paid in capital in excess of par value, common stock .....$ 2,000,000 ..400,000 900,000 Retained earnings.... Total $3,300,000 The Corporation completed the following transactions in 2021. 1- Jan 10, Directors declared a $1 per share cash dividend payable on March 15 to the Jan. 31 stockholders of record 2- Mar 01, Purchased 10,000 shares of its own common for $15 per share 3- Mar 15, Paid the cash dividend declared on Jan 10. 4-May 01, Sold 6,000 of its treasury shares at $15 cash per share. 5- Sep 30, Directors declared a 30% stock dividend when the share market price is $16. 6- Nov 01, Distributed stock dividends declared on Sep 30 7- Nov 15, The company implemented 5-for-1 stock split for the common stock. Required: Prepare journal entries to record each of these transactions for 2021

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