Co-corporation:

Following is the stockholders' equity section ofG&G Ltd. on December 31, 2015Common Stock, $10 par value, 1,000,000 shares authorized,550,000 shares issued and outstanding..........$5,500,000

• Additional Paid-in Capital-Common Stock...... $1,950,000
• Retained Earnings.......................................... $3,152,000
• Total stockholders' equity.............................. $10,602,000
• Transactions during 2016:-1) Feb10, Issued 30,000 shares of its $10 par value common stock for $650,000 cash.

2) Feb 27, Purchased 5,000 shares of its own stock for $30 per share

3) March 9, Sold 1,000 shares of treasury stock purchased on Feb 27 for $31 per share

4) April 30, Declared cash dividend $2.5 per share and Stock dividend of 3,000 shares for the stockholders on record may 5. (Market price is $28 per share )

5) May 12 Sold 2,000 shares of treasury stock purchased on Feb 27 for $30 per share.

6) May 19 Sold 1,000 shares of treasury stock purchased on Feb 27 for $27 per share.

7) May 30 Distributed the dividend.

Provide journal entry for transactions and prepare schedule for stockholders' Equity on may 30,2016.