The following transactions occurred during the first year of operations for Cougar Corp.

for each transaction prepare the journal entry.

Then prepare the stockholders equity section of the balance sheet.

Note: Cougar Corp. earned $95,000 of net income.

a. Cougar Corp. sold 7,000 shares of $4 par value common stock for $38,000.

b. Cougar Corp. declared dividends of $5/share.

c. Cougar Corp. paid dividends declared in (b.).

d. Cougar Corp. repurchased 1,600 shares of the stock sold in (a.) for $9/share.

e. Cougar Corp. sold 400 of the shares purchased in (d.) for $20/share.

Date		DR	CR