Ellis Corporation was organized on June 30, 2005. After 2 1/2 years of profitable operations, the equity section of Ellis’s balance sheet was as follows:

Contributed capital:

Common stock, $3 par, 600,000 shares authorized,

200,000 shares issued and outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 600,000

Paid-in capital in excess of par . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000,000

Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,800,000

Total stockholders’ equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9,400,000

During 2008, the following transactions affected stockholders’ equity:

Jan. 31 Reacquired 10,000 shares of common stock at $32; treasury stock is recorded at cost.

Apr. 1 Declared a 30% stock dividend. (Applies to all issued stock.)

30 Declared a $0.75 cash dividend. (Applies only to outstanding stock.)

June 1 Issued the stock dividend and paid the cash dividend.

Aug. 31 Sold all treasury stock at $35.

Instructions:

Provide the journal entries to record the stock transactions.