Stockholders' Equity: Transactions and Statement The stockholders' equity section of Night Corporation's balance sheet at January 1 follows: Common stock, $5 par value, 300,000 shares authorized, 60,000 shares $300,000 issued, 6,000 shares in treasury Additional paid-in capital In excess of par value From treasury stock Retained earnings Less: Treasury stock (6,000 shares) at cost Total Stockholders' Equity $480,000 30,000 510,000 348,000 1,158,000 138,000 $1,020,000 The following transactions affecting stockholders' equity occurred during the year: Jan. 8 Issued 15,000 shares of previously unissued common stock for $21 cash per share. Mar. 12 Sold all of the treasury shares for $28 cash per share. June 30 Declared a five percent stock dividend on all outstanding shares of common stock. The market value of the stock was $25 per share. July 10 Issued the stock dividend declared on June 30. Oct. 7 Acquired 2,500 shares of common stock as treasury stock at $26 cash per share. Dec. 18 Declared a cash dividend of $1.00 per outstanding common share, payable on January 9 to stockholders of record on December 31.