On January 1, Pharoah Corporation had97,500shares of no-par common stock issued and outstanding. The stock has a stated value of $6per share. During the year, the following occurred.

Apr.1 Issued23,000 additional shares of common stock for $17 per share. June 15 declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec.1 Issued1,500 additional shares of common stock for $19 per share. Dec 15 declared a cash dividend on outstanding shares of $2.90 per share to stockholders of record on December 31.