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On January 5, 2020, Riverbed Corporation received a charter granting the right to issue 5.200 shares of $100 par value. 8% cumulative and nonparticipating

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On January 5, 2020, Riverbed Corporation received a charter granting the right to issue 5.200 shares of $100 par value. 8% cumulative and nonparticipating preferred stock, and 47,700 shares of $10 par value common stock. It then completed these transactions. Jan. 11 Feb. 1 July 29 Aug. 10 Dec. 31 Issued 21.200 shares of common stock at $16 per share. Issued to Sanchez Corp. 4,200 shares of preferred stock for the following assets: equipment with a fair value of $54,900; a factory building with a fair value of $170.000; and land with an appraised value of $252,000. Purchased 1,900 shares of common stock at $16 per share. (Use cost method.) Sold the 1,900 treasury shares at $15 per share. Declared a $0.40 per share cash dividend on the common stock and declared the preferred dividend Dec. 31 Closed the Income Summary account. There was a $188,100 net income.

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