Entries for selected corporate transactions Instructions Selected transactions completed by Primo Discount Corporation during the current fiscal yoar aro as follows: Jan. 9 Split the commen stock 3 for 1 and reduced the par from $75 to $25 per share. Aftor the spit, there were 1,200,000 common shares outstanding. Fob. 28 Purchased 40,000 shares of the corporation's own common stock at \$28, recording the stock at cost. May 1 Deciared semiannual dividends of $0.80 per share on 75,000 shares of and $0.12 per share on the common stock to stockholders of record on June 1, payable on July 10. Jul. 10 Paid the cash dividends. Sep. 7 Sold 30,000 shares of treasury stock at $34, recolving cash. Oct. 1 Declared semiannual dividends of $0.80 per share on the preterred stock and $0.12 per share on the common stock (betore the stock dividend). In addition, a 2% common stook didend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $36. Deo. 1 Paid the cash dividends and issued the certificates for the common stock dividend