Garber Corporation had $56,000$ shares of $$14$ par common stock outstanding on January $1,$ Year $1.$ On June $1,$ Year $1$ Garber purchased

$6,900$ shares of its own stock on the open market for $$24$ per share and held it as treasury stock. On October $1,$ Year $1$ Garber declared

and issued a $10\%$ stock dividend. The market value of Garber's stock was $$26$ per share on October $1.$ Garber's board of directors

declared and paid a cash dividend of $$58,600$ on December $15,$ Year $1.$

Required:

a$.$ Show how the purchase of the treasury stock affects the financial statements.

b$.$ Show how the issuance of the stock dividend affects each element of the financial statements.

c$.$ Show how the declaration and payment of the cash dividend affect the financial statements.

d$.$ What was the per share cash dividend paid on December $15?$

Complete this question by entering your answers in the tabs below.

Show how the purchase of the treasury stock affects the financial statements.

Note: Enter any decreases to account balances and cash outflows with a minus sign. For cash flows, indicate whether each is an operating activity $($OA$),$ inve

$($IA$),$ or financing activity $($FA$).$ Leave cells blank if no input is needed.