3. The following info is given. Jan. 1 The board of directors reduced the par of common shares from $20 to $4. This action increased the number of outstanding shares to 300,000 . 9 Purchased 15,000 shares of own stock at $8, recording the purchase at cost. Apr. 1 Declared a dividend of $3 per share on the outstanding shares of common stock. 10 Paid the dividend declared on May 1. Sept. 9 Declared a 4% stock dividend on the common stock outstanding (the fair market value of the stock to be issued is $10 ). Oet. 15 Issued the certificates for the common stock dividend declared on September 9. Oet 30 Issued 40,000 shares of common stock in exchange for land, building, and vehicles with appraised values of $200,000$500,000, and $90,000 respectively. The stocks are being traded on market at $12 per share. Dec. 31 Issued 8,000 shares of 6% preferred stock at $50 per share for cash. 3. The following info is given. Jan. 1 The board of directors reduced the par of common shares from $20 to $4. This action increased the number of outstanding shares to 300,000 . 9 Purchased 15,000 shares of own stock at $8, recording the purchase at cost. Apr. 1 Declared a dividend of $3 per share on the outstanding shares of common stock. 10 Paid the dividend declared on May 1. Sept. 9 Declared a 4% stock dividend on the common stock outstanding (the fair market value of the stock to be issued is $10 ). Oet. 15 Issued the certificates for the common stock dividend declared on September 9. Oet 30 Issued 40,000 shares of common stock in exchange for land, building, and vehicles with appraised values of $200,000$500,000, and $90,000 respectively. The stocks are being traded on market at $12 per share. Dec. 31 Issued 8,000 shares of 6% preferred stock at $50 per share for cash