summerborn manufacturing co completed the following transactions during 2012 551073

Jan

16

Declared a cash dividend on the 5%, $100 par preferred stock (900 shares outstanding). Declared a $0.30 per share dividend on the 80,000 shares of common stock outstanding. The date of record is January 31, and the payment due date is February 15.

Feb

15

Paid the cash dividends.

Jun

10

Split common stock 2 for 1. Before the split, Summerborn had 80,000 shares of $6 par common stock outstanding.

Jul

30

Distributed a 50% stock dividend on the common stock. The market value of the common stock was $9 per share.

Oct

26

Purchased 1,000 shares of treasury stock at $13 per share.

Nov

8

Sold 500 shares of treasury stock for $15 per share.

Nov

30

Sold 300 shares of treasury stock for $8 per share.