Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, Year 1, were as follows: Record on journal page 10: Jan. Feb. 3 15 1 16 May Issued 15,000 shares of $20 par common stock at $30, receiving cash. Issued 4,000 shares of $80 par preferred 5% stock at $100, receiving cash. Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held and 20,000 shares of preferred stock were outstanding. Journalize this transaction as two separate entries. 26 Jun. 1 Paid the cash dividends declared on May 16. Purchased 7,500 shares of Solstice Corp. at $40 per share plus a $150 brokerage commission. The investment is classified as an available-for-sale investment. Purchased 8,000 shares of treasury common stock at $33 per share. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for $24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity 22 method investment. 30 Declared a $1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. Paid the cash dividends declared on Jun. 30 to the preferred stockholders. Received $27,500 dividend from Pinkberry Co. investment of Jun. 22. Aug. 27