Page 3 3. Present entries to record the following selected transactions completed during the current fiscal year for the Merdier Corp. Feb. 1 The board of directors reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 500,000. Purchased 25,000 shares of own stock at $30, recording the treasury stock at cost. 11 May 1 Declared a dividend of $1 per share on the outstanding shares of common stock. Paid the dividend declared on May 1. Declared a 2% stock dividend on the common stock outstanding (the fair 15 Oct. 19 market value of the stock to be issued is $40). Issued the certificates for the common stock dividend declared on October 19. The board of directors authorized the appropriation necessitated by the Nov. 12 Dec. 31 holdings of treasury stock