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Required information

$[$The following information applies to the questions displayed below.$]$

The following selected transactions occurred for Corner Corporation:

February $1$ Purchased $400$ shares of the company's own common stock at $$20$ cash per share; the stock is now held in treasury.

July $15$ Issued $100$ of the shares purchased on February $1$ for $$30$ cash per share. September $1$ Issued $60$ more of the shares purchased on February $1$ for $$15$ cash per share.

Required:

$3.$ What impact does the purchase of treasury stock have on dividends paid?

Dividends

paid on treasury stock.

Therefore, the total amount of

paid is

when treasury stock is purchased.