=+PR 13-2A Stock transaction for corporate expansion obj. 3 608 Chapter 13 Corporations: Organization, Stock Transactions, and Dividends At the annual stockholders’ meeting on December 7, the board of directors presented a plan for modernizing and expanding plant operations at a cost of approximately $5,300,000. The plan provided

(a) that the corporation borrow $2,000,000,

(b) that