Exercise 10-12 (Algo) Record common stock, treasury stock, and cash dividends (LO10-2, 10-4, 10-5) Taking Flight Corporation designs and produces a line of golf equipment and golf apparel. Taking Flight has 100,000 shares of common stock outstanding as of the beginning of 2024 . Taking Flight has the following transactions affecting stockholders' equity in 2024. March 1 Issues 46,000 additional shares of $1 par value common stock for $43 per share. May 10 Purchases 4,100 shares of treasury stock for $46 per share. June 1 Declares a cash dividend of $1.05 per share to all stockholders of record on June 15. (Hint: Dividends are July1PaysthecashdividenddeclaredonJune1.notpaidontreasurystock.) October 21 Resells 2,050 shares of treasury stock purchased on May 10 for $51 per share. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the issuance of 46,000 additional shares of $1 par value common stock for $43 per share. Note: Enter debits before credits. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the purchase of 4,100 shares of treasury stock for $46 per share. Note: Enter debits before credits. Journal entry worksheet Record the declaration of a cash dividend of $1.05 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) Note: Enter debits before credits. Journal entry worksheet