for the ye 3. Prepare a retained earnings statement 4. Prepare th e Stockholders' Equity section of the December 31, 2016, balance sheer OBJ. 3, 4,5,7 ected transactions completed by Primo Discount Corporation during the current fiscal year are as follows: PR 13-5A Entries for selected corporate transactions Sele Jan. 9. Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there were 1,200,000 common shares outstanding. Purchased 40,000 shares of the corporation's own common stock at $28, recording the stock at cost. 1. Declared semiannual dividends of $o.80 on 75,000 shares of preferred stock May and $0.12 on the common stock to stockholders of record on June 1, payable on July 10. July 10. Paid the cash dividends. Sept. Oct. Sold 30,000 shares of treasury stock at $34, receiving cash. 7. 1. Declared semiannual dividends of $0.80 on the preferred stock and $0.12 on the common stock (before the stock dividend). In addition, a 2% common stock dividend was declared on the common stock outstanding. The fair mar- ket value of the common stock is estimated at $36 Dec. 1. Paid the cash dividends and issued the certificates for the common stock dividend Instructions Journalize the transactions. ries B