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Jan. 9 Split the common stock 3 for 1 and reduced the par from $75...

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Accounting

Jan. 9 Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there
were 1,200,000 common shares outstanding.
Feb. 28 Purchased 40,000 shares of the corporation's own common stock at $28, recording the stock at cost.
May 1 Declared semiannual dividends of $0.80 on 75,000 shares of preferred stock and $0.12 on the common
stock to stockholders of record on June 1, payable on July 10.
Jul. 10 Paid the cash dividends.
Sep. 7 Sold 30,000 shares of treasury stock at $34, receiving cash.
Oct. 1 Declared semiannual dividends of $0.80 on the preferred stock and $0.12 on the common stock (before
the stock dividend). In addition, a 2% common stock dividend was declared on the common stock
outstanding. The fair market value of the common stock is estimated at $36.
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