Tim Hortons restaurants operate in a variety of formats. A standard Tim Hortons restaurant is a freestanding building typically ranging in size from 1,400 to 3,090 square feet with a dining room and single or double drive-thru window. The Company also has nonstandard restaurants designed to fit anywhere, consisting of kiosks in offices, hospitals, colleges, airports, gas station convenience stores, and drive-thru-only units on smaller pieces of property. The company's annual report included the following information:

For 2008, prepare journal entries to record the purchase of treasury stock and the declaration and payment of dividends. For 2006, prepare the journal entry to record the sale of common stock. The common stock has a par value of $0.001 and 50,000,000 shares were issued during2006.

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2007 2008 2006 Cash flows (used in) provided from financing activities Purchase of treasury stock (note 19) Purchase of common stock held in trust (note 19) Purchase of common stock for settlement of stock-based (165,258) (3,842) (170,604) (7,202) (64,971) (9,171) (110) compensation (note 20) Dividend payments (226) (66,086) (5,489) (27,046) 903,825 (52,865) Proceeds from share issuance Share issuance costs (61,918) 501,263 Proceeds from issuance of debt, net of issuance costs 3,796 2,588 Tax sharing payment from Wendy's (note 7) Repayment of borrowings from Wendy's Principal payments on other long-term debt obligations 9,116 (1,087,968) (206,750) (7,376) (4,060) Net cash used in financing activities (238,992) (223,137) (58,225)