Issuance, Repurchase, Resale and Dividends of Capital Stock/ Due Oct 4 by 1pm Points 100 Submitting a text entry box or a file upload Attempts 0 Allowed Attempts 1 Available Sep 27 at 3pm - Oct 4 at 1pm The Staples Company had the following transactions occur during 2015: (a) Issued 8,000 shares of common stock to the founders for land valued at $275,000. Par value of the common stock is $1 per share. . (b) Issued 4,000 shares of $100 par preferred stock for cash at $120 per share. (c) Sold 2,500 shares of common stock to the company president for $45 per share. (d) Purchased 750 shares of outstanding preferred stock issued in (b) for cash at par. (e) Purchased 2,000 shares of the outstanding common stock issued in (a) for $39 per share. (f) Reissued 400 shares of repurchased preferred stock at $112. . (g) Reissued 500 shares of reacquired common stock for $45 per share. . (h-1) Repurchased 200 shares of the common stock sold in (g) for $43 per share. (h-2)These same 200 shares were later reissued for $40 per share. (i) A dividend of $3 per share was declared on outstanding preferred stock. INSTRUCTIONS: 1. Prepare the necessary entries for the common stock transactions assuming that the cost method is used for recording treasury stock.