Treasury stock transactions On January 1, 2019, Metco Inc. reported 411,050 Problem 8.26 2019, Metco Inc. purchased for its treasury 3,600 shares of its common stock at a require in commna WL Chapter 8 Accounting for and Presentation of Stockholders' Equity price of $37 per share. On August 19, 2019 1,450 of these treasury shares were orld for S43 per share. Metco's directors declared cash dividends of S1.50 per share during the second quarter and again during the fourth quarter, payable on June 30, end of the year. There were no other transactions affecting common stock during the year. Required: 2. Use the horizontal model er write the entry) to show the effect of the treasury stock purchase on March 24, 2019. b. Calculate the total amount of the cash dividends paid in the second quarter. c. Use the horizontal model (or write the entry) to show the effect of the sale of the treasury stock on August 19, 2019. d. Calculate the total amount of cash dividends paid in the fourth quarter. e. Calculate the number of shares of stock issued in the stock dividend. SUO