2. Present general entries in good form to record the following selected transactions completed during the current fiscal year: Feb. 1 The board of directors declared a stock split and reduced the par value of common shares from $100 to $20. This action increased the number of outstanding shares to 500,000. (Also, Determine the number of outstanding shares before the stock split) 11Purchased 25,000 shares of own stock at $45, recording the treasury stock at cost. May 1Declared a cash dividend of $3 per share on the outstanding shares of common stock. 15Paid the dividend declared on May 1. Nov. 12Issued 2,000 shares of common stock at the market price of $25 per share to the attorneys for a civil litigation. Nov. 30Issued 44,000 shares of common stock in exchange for land, building, and vehicles with appraised values of $300,000 $400,000, and $100,000 respectively. The stocks are being traded on the National Exchange for $30 per share. Dec. 15 Issued 8,000 shares of 9% preferred stock of $6 par for cash. The shares were trading in the market at $15 per share. 14 Points