DeZurik Corp. had the following stockholders equity section in its June 30, 2020, balance sheet (in thousands, except share and per share amounts):

	June 30 (in thousands)
	2020				2019
Paid-in capital:
$4.60 Preferred stock, $ ? par value, cumulative, 200,000 shares authorized, 95,000 shares issued and outstanding					$	5,890
Common stock, $5 par value, 4,000,000 shares authorized, 3,290,000 shares issued, 3,000,000 shares outstanding
Additional paid-in capital on common stock						23,359
Retained earnings
Less: Treasury common stock, at cost, ? shares
Total stockholders' equity	$	66,835			$	60,376

The transactions affecting the stockholders equity accounts of DeZurik Corp. for the year ended June 30, 2020, are summarized here:

Journal entry

1. 310,000 shares of common stock were issued at $15.60 per share.
2. 80,000 shares of treasury (common) stock were sold for $18.1 per share.
3. Net income for the year was $1,290 (in thousands).
4. The fiscal 2020 preferred dividends were paid in full. Assume that all 95,000 shares were outstanding throughout the year ended June 30, 2020.
5. A cash dividend of $0.20 per share was declared and paid to common stockholders. Assume that transactions (1) and (2) occurred before the dividend was declared.
6. The preferred stock was split 2 for 1 on June 30, 2020. (Note: This transaction had no effect on transaction 4.)

Required: a-1. Record the effect of transactions 1-6 in journal entry format. a-2. Calculate the dollar amounts that DeZurik Corp. would report for each stockholders equity caption on its June 30, 2020, balance sheet, after recording the effects of transactions 1-6. Also the treasury stock was purchased at $18.1. b. Indicate how the stockholders equity caption details for DeZurik Corp. would change for the June 30, 2020, balance sheet, as compared to the disclosures for the 2019 balance sheet. c. What was the average issue price of common stock shown on the June 30, 2020, balance sheet?