EXERCISE 12.7 Cash Dividends, Stock Dividends, and Stock Splits HiTech Manufacturing Company has 1,000,000 shares of St par value capital stock outstanding on Janury . The following equity transactions occurred during the current year, Apr. 30 Distributed additional shares of capital stock in a 2-for-1 stock split. Market price of stock was $35 per share. June 1 Declared a cash dividend of 0.60 per share July 1 Paid the 50.60 cash dividend to stockholders Aug. 1 Declared a 5 percent stock dividend Market price of stock was $19 per share Sept. 10 Istoed shores resulting from the 5 percent stock dividend declared on August 1 a. Prepare journal entries to record these transactions b. Compute the number of shares of capital stock outstanding at year-end. c. What is the par value per share of HiTech Manufacturing stock at the end of the sear