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The transactions affecting the stockholders' equity accounts of DeZurik Corp. for the year ended June 30, 2020, are summarized here: 1. 300,000 shares of common
The transactions affecting the stockholders' equity accounts of DeZurik Corp. for the year ended June 30, 2020, are summarized here:
1. 300,000 shares of common stock were issued at $14.00 per share.
2. 90,000 shares of treasury (common) stock were sold for $18.2 per share.
3. Net income for the year was $1,300 (in thousands).
4. The fiscal 2020 preferred dividends were paid in full. Assume that all 95,000 shares were outstanding throughout the year ended
June 30, 2020.
5. A cash dividend of $0.20 per share was declared and paid to common stockholders. Assume that transactions (1) and (2) occurred
before the dividend was declared.
6. The preferred stock was split 2 for 1 on June 30, 2020. (Note: This transaction had no effect on transaction 4.)
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