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Larkspur Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. During 2020, Larkspur took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 dividend on preferred stock and a $0.50 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. Purchased 1,000 shares of its own outstanding common stock for $8 per share. Larkspur uses the cost method. 3. Reissued 1,000 treasury shares for land with an appraised value of $8,600. Larkspur's common shares were trading for $8.50 per share. 4. Issued 45,000 shares of common stock at $9 per share. 5. Declared and recorded a 2:1 stock split on the outstanding common stock when the stock is selling for $10 per share. 6. Declared the annual 2020 dividend on preferred stock and the $0.50 per share dividend on common stock. These dividends are payable in 2021 . No. Account Titles and Explanation Debit Credit 1. Divldends Payable - Preferred Dlvidends Payable - Common Cash 2. Treasury Stock Cash 3. Land Treasury Stock Pald-In Capltal from Treasury Stock 4. Cash Preferred Stock Pald-In Capltal In Excess of Par - Preferred Stock 5. Retalned Earnings Common Stock Dlvidend Distrlbutable 6. Pald-In Capltal in Excess of Par - Common Stock Common Stock Dlvidend Distributable Common Stock

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