Feb. 21: Issued 50,000 shares of common stock in exchange for equipment. The list price of the equipment was $950,000, and the stock market price was $18 per share.

May 10: Declared and distributed a 5-for-4 stock split, effected in the form of a 25% stock dividend. The market value of the $1 par common stock was $20 per share.

Aug. 15: Declared a $2.50 per share dividend to common shareholders of record on August 31, payable on September 5.

Oct. 20: Declared and distributed a 10% stock dividend on the common stock. The market price of the common stock was $21 per share.

REQUIRED:

[1] Record the transactions in journal entry format. [2] Determine the ending [12/31] balances in the [a] common stock account, [b] paid-in capital excess, common account, and [c] the number of shares authorized, issued and outstanding.