The following is the equity section of Yakubu Corporation's balance sheet on January 1, 2016:

Yakubu Corporation

Stockholders Equity

December 31, 2015

Common stock, par value $0.1, shares authorized 200,000,

issued and outstanding 100,000. $ 10,000

Paid in Capital in excess of par value 140,000

Retained earnings 160,000

Total Stockholders Equity $ 310,000

The following selected transactions occurred during 2016 in the order provided. In other words, event 2 occurred after event 1, and event 3 occurred after event 2, and so on.

(1) 2,000 shares of treasury stock were purchased at $9 per share.

(2) Declared a 3 for 1 stock split, reduced the par value per share of common stock to $0.03 and increased shares authorized to 600,000.

(3) Sold 2,000 shares of treasury stock for $5 a share.

(4) Reported Net Income of $136,000 for the year.

(5) Declared and paid cash dividends of $0.50 a share.

Required: Show the effect of each of the above events on the following Equity components.

(I) Common Stock at Par,

(ii) Paid in Excess of Par,

(iii) Retained Earnings,

(iv) Treasury Stock,

(v) Total Stockholders' Equity,

(vi) Shares Issued, and

(vii) Shares Outstanding.