Question 2 Arabian Gulf Corporation reports the following stockholders' equity section on December 31, 2020. - Common stock: $10 par value; 700,000 shares authorized; 300,000 shares issued and outstanding... - Paid in capital in excess of par value, common stock $3,000,000 -Retained earnings. 400,000 Total 900.000 $4,300,000 The Corporation completed the following transactions in 2021. -Jan. 10, Directors declared a $1 per share cash dividend payable on March 15 to the Jan. 31 stockholders of record. Mar. 01. Purchased 30,000 shares of its own common for $15 per share Mar. 31, Paid the cash dividend declared on Jan. 10. May 01, Sold 10,000 of its treasury shares at $15 cash per share. Sep. 30, Directors declared a 30% stock dividend when the share market price is $16. - Nov. 01. Distributed stock dividends declared on Sep. 30. - Nov. 15. The company implemented 5-for-1 stock split for the common stock Required: Prepare journal entries to record each of these transactions for 2021. CLEARLY INDICATE THE DEBITS & CREDITS Example: XYZ Company pays $10,000 cash to purchase land ADEL Dr. Land 10.000 Cr, Cash 10,000 For the toolbar, press ALT-F10 (PC) or ALT-FN-F10 (Mac) BI VS Paragraph Arial 10pt