On January 1, Cullumber Corporation had 93,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $7 per share. During the year, the following occurred. Apr. 1 June 15 July 10 Dec. 1 15 Issued 20,500 additional shares of common stock for $18 per share. Declared a cash dividend of $2 per share to stockholders of record on June 30. Paid the $2 cash dividend. Issued 2,000 additional shares of common stock for $18 per share. Declared a cash dividend on outstanding shares of $3.50 per share to stockholders of record on December 31