On January 1. Ayayai Corp. had 63,200 shares of no-par common stock issued and outstanding. The stock has a stated value of S4 per share. During the year, the following transactions occurred. Apr. 1 June 15 July 10 Issued 19,350 additional shares of common stock for $12 per share. Declared a cash dividend of $1.60 per share to stockholders of record on June 30. Paid the $1.60 cash dividend. Issued 8,600 additional shares of common stock for $11 per share. Declared a cash dividend on outstanding shares of $1.70 per share to stockholders of record on December 31. Dec. 1 Dec. 15 Date Account Titles and Explanation Debit Credit June 15 Retained Earnings 132080 132080 Dividends Payable 1320B0 July 10 Dividends Payable 132030 Cash Dec. 15 Retained Earnings Dividends Payable