Selected transactions completed by Indy Boating Supply Corporation during the current fiscal year are as follows:
Feb. 9 Split the common stock 3 for 1 and reduced the par from $120 to $40 per share. After the split, there were 900,000 common shares outstanding.
Apr. 10 Declared semiannual dividends of $1 on 12,000 shares of preferred stock and $0.05 on the common stock to stockholders of record on April 20, payable on May 1.
May 1 Paid the cash dividends.
Oct. 12 Declared semiannual dividends of $1 on the preferred stock and $0.15 on the common stock (before the stock dividend). In addition, a 1% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $48.
Nov. 14 Paid the cash dividends and issued the certificates for the common stock dividend. Journalize the transactions.