3. Airborne Manufacturing, Co., completed the following transactions during 2018 | Jan 16 Declared a cash dividend on the 4%, $101 par preferred stock (950 shares outstanding). Declared a $0.30 per share dividend on the 85,000 shares of common stock outstanding. The date of the declaration is January 31, and the payment due date is February 15. Feb. 15 Paid the cash dividends June 10 Split common stock 2 for 1. Before the split, Airborne had 85,000 share of $2 par common stock outstanding. July 16 Declared a 50% stock dividend on the common stock. The market value of the common stock was $9 per share. July 30 Distributed the stock dividend Oct. 26 Purchased 3,000 shares of treasury stock at $10 per share. Nov. 8 Sold 1,500 shares of treasury stock for $14 per share Nov. 30 Sold 700 shares of treasury stock for $9 per share. Date Account Debit Credit