Porto Bay Corporation manufactures and distrbutes leisure clothing. Selected tramsactions completed by Porto Bay during the current fiscal year are as follows: Jan 10. Split the common stock 4 for 1 and reduced the par from $100 to $25 per share. After the split, there were 500,000 common shares outstanding. Mar 1. Declared semiannual dividends of $1.20 on 80,000 shares of preferred stock and $0.24 on the 500,000 shares of $25 par common stock to stockholders of record on March 31, payable on April 30. Apr 30. Paid the cash dividends. July 9. Purchased 75,000 shares of the corporation's own common stock at $26, recording the stock at cost. Aug 29. Sold 40,000 shares of treasury stock at $32, receiving. Sept 1. Declared semiannual dividends of $1.20 on the preferred stock and $0.15 on the common stock (before the stock dividend). In addition, a %1 common stock dividend was declared on the common stock outstanding, to be capitalized at the fair market value of the common stock, which is estimated at $30. Oct 31. Paid the cash dividends and issued the certificates for the common stock dividend. Instruction: Journalize the transactions