stock transactions Identify the effects-both the direction and the dollar amount-of these assumed transactions on the total stockholders' equity of Townsend Corporation. Each transaction is independent. a. b. c. Declaration of cash dividends of $76 million. Payment of the cash dividend in (a). A 20% stock dividend. Before the dividend, 72 million shares of$1.00 par common stock were outstanding; the market value was $3.875 at the time of the dividend d. A 40% stock dividend. Before the dividend, 72 million shares of $1.00 par common stock were outstanding; the market value was $14.25 at the time of the dividend. Purchase of 1,700 shares of treasury stock (par value $1.00) at $3.25 per share. Sale of 800 shares of the treasury stock for $6.00 per share. Cost of the treasury stock was $3.25 per share. e. . g. A2-for-1 stock split. Prior to the split, 72 million shares of $1.00 par common stock were outstanding