Pueblo, Inc., ended 2018 with 8 million shares of \$1 par common stock issued and...
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Pueblo, Inc., ended 2018 with 8 million shares of \$1 par common stock issued and outstanding. On December 31, 2018 additional paid-in capital was $16 million, and retained earnings totaled \$ 38 million. In April 2019, Pueblo issued 6 million shares of common stock at a price of $3 per share. In June, the company declared and distributed a 10% stock dividend at a time when Pueblo's common stock had a market value of $13 per share. Then in September, Pueblo's stock price dropped to $1 per share and the company purchased 6 million shares of treasury stock. In October, Pueblo sold 600,000 shares of treasury stock for $3 per share In November, Pueblo declared \$15 million in cash dividends payable on December 15 to holders of record on December 5. On December 1, Pueblo declared a 2 for 1 stock split For the year, Pueblo earned net income of $26 million. (no journal entry - just enter on grid) 1) Prepare the necessary Journal Entries
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