QUESTION 1 120 shares outstanding 960 Begin year balances common stock $8 par value additional paid in capital retained earnings 2,560 1,648 A provide journal entries 1 sold 28 shares of preferred stock for $ 40 per share 2 declared 2 for 1 split for common stock 3 purchased 6 of its own shares for $ 12 each 4 sold 2 of the shares purchased in # 3 for $ 16 each 5 declared cash dividend preferred stock $ 4 per share common stock $ .40 per share 6 date of record for # 5 7 paid cash dividend in # 5 8 declared 15 % stock dividend on common stock market value was $ 20 per share 9 date of record for # 8 B prepare Stockholder's Equity section of balance sheet C compute book value per share for preferred and common stock