Revise your calculations based the new information provided below and then answer the questions that follow.

Beginning number of shares issued		532,000
Additional shares issued during the year		132,000
Beginning treasury shares		52,000
Portion of treasury shares resold		10	%
Dividends per share	$	0.20
Beginning retained earnings	$	560,000
Net income for the year	$	410,000

Required: 1. Calculate the number of outstanding shares of common stock: (Amounts to be deducted should be indicated by a minus sign.)

2. Prepare the journal entries to record the dividends. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Required: 1. Calculate the number of outstanding shares of common stock: (Amounts to be deducted should be indicated by a minus sign.) Journal entry worksheet Record the entry on the declaration date for the dividends to be paid on the common shares outstanding. Note: Enter debits before credits