Moran Energy Inc. is a rapidly growing domestic energy company, with operations in oil and gas exploration and production as well as onshore and offshore contract drilling. Moran’s stockholders’ equity section appeared as follows on December 31, 20x0:

Give the journal entries to record the following events. Assume that the events took place in the order presented. Please show all calculations.

a. The company declared and issued a 10-percent common stock dividend.

The market price was $34.30 per share of common stock.

b. The company issued 17,000 shares of common stock at $8.06 per share for the exercise of common stock options.

c. $19,443,000 principal amount of convertible debentures were converted into 955,000 shares of common stock.

The company sold 880,000 shares of common stock to the public for $24,883,000.

e. The company issued a common stock split in the form of a 100-percent stock dividend. The market value was $38.50 per share. The $0.25 par value was retained.

f. The board of directors approved a restricted stock plan whereby shares were reserved for issuance to certain officers and key employees. Restricted plan expense of $121,980 was charged to Income and credited to Unissued Restricted Stock.

g. The company earned an income of $12,187,000 in 20x1 and declared dividends of $580,000 in 20x1.

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Stockholders' Equity Common Stock, $0.25 par value, 30,000,000 shares authorized, 2,500,000 shares outstanding at December 31, 20x0 Capital in Excess of Par Value Retained Earnings $ 625,000 20,239,000 15,549,000 $36,413,000