During 2015, the following transactions occurred at West Mar Industries. March 20, 2015, the Company Purchased 12,000 shares of its own common stock at $20.00 per share. October 5, 2015 the Company sold 3,000 of the shares it purchased on March 20, 2015 for $25.00 per share. Please prepare the journal entries for the above transactions. The Teflon Company's Board of Director declared a dividend on the Company's 1, 250,000 issued and outstanding common shares. The Board of Directors authorized the dividend in accordance with the following schedule. December 10, 2015 declared a dividend of $.50 per share of common stock December 15, 2015 date of record for shareholders December 28, 2015 payment date Please prepare appropriate journal entries, if any, on dates listed. The Maxim Corporation has 1,000,000 shares of common stock authorized and 300,000 issued and outstanding. The par value of the stock is $1.00 per share. The Board of Directors has declared a 30% stock dividend. Please prepare the appropriate journal entry to record stock dividend. The market value of the stock at the time of the stock dividend is $4.00 per share