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Question 12 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 $3,000,000 - Paid in capital in excess of par value, common stock -Retained earnings..... 400,000 900,000 Total $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