May 18 Issues 20,000 May 31 Repurchases 3,500 shares of treasury stock for $40 per share. July 31 Pays the cash dividend declared on July 1 August 10 Reissues 2,500 shares of treasury stock purchased on May 31 for $48 per share using the format provided lAmounts s in treasury stock should be e Paid in 100,000 1,000,000 dividends r 31