Exercise 3 On May 1, 2020, Miren Corporation had 35,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: process the journal entries. May 12 Issued 80,000 shares of common stock for $575,000 (10 points) June 1 Declared a cash dividend of $2 per share to stockholders of record on June 15 (10 points) June 25 Paid the $2 cash dividend (10 points) Nov 1 Purchased 6,000 shares of common stock for the treasury for $15 per share (10 points) Dec 15 Declared a cash dividend on outstanding shares of $2.25 per share to stockholders of record on December 31 (10 points)