Prepare entries to record the following selected transactions completed during the current fiscal year:

Feb. 1 The board of directors declared a stock split which reduced the par of common shares

from $100 to $20. This action increased the number of outstanding shares to 500,000.

11 Purchased 25,000 shares of own stock at $44, recording the treasury stock at cost.

May 1 Declared a dividend of $2.50 per share on the outstanding shares of common stock.

15 Paid the dividend declared on May 1.

Oct.19 Declared a 2% stock dividend on the common stock outstanding (the fair market value of the

stock to be issued is $55).

Nov.12 Issued the certificates for the common stock dividend declared on October 19.