The stockholders' equity section of Porter Corporation's balance sheet as of December 31, 20Th is as follows:
Question:
The stockholders' equity section of Porter Corporation's balance sheet as of December 31, 20Th is as follows:
The following events occurred during 2018:
Jan. 5 35,000 shares of authorized and unissued common stock were issued for $18 per share.
Jan. 15 Declared a cash dividend of $2,500,000, payable February 20 to stockholders on record on February 5. No dividends have been declared since December 31, 2016.
Feb. 10 12,000 shares of authorized and unissued common stock were issued for $15 per share.
March 1 A 30% stock dividend was declared on common stocks. Market value per share is currently $25.
March 20 The 30% stock dividend on common stocks declared on March 1 was issued. Market value per share is currently $22.
April 1 A 30 stock split was carried out on the common stocks. Market value on
March 31 was $20 per share.
July 1 A 15% stock dividend was declared and issued on common stocks. Market value is
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