View Policies Current Attempt in Progress Bramble Company was formed on July 1, 2018. It was authorized to issue 296,200 shares of $10 par value common stock and 104,100 shares of 7% $25 par value, cumulative and nonparticipating preferred stock. Bramble Company has a July 1-June 30 fiscal year The following information relates to the stockholders' equity accounts of Bramble Company Common Stock Prior to the 2020-2021 fiscal year, Bramble Company had 114,200 shares of outstanding common stock issued as follows. 2 89.000 shares were issued for cash on July 1, 2018, at $31 per share 2 3 20,200 shores were issued on March 1, 2019, for $41 per share On Auly 24, 2018, 5,000 shares were exchanged for a plot of land which cast the seller $71,800 in 2012 and had an estimated fair value of $211.200 on July 24, 2018. During the 2020-2021 fiscal year, the following transactions regarding common stock took place November 30,2020 December 15,2020 June 20, 2021 Bramble purchased 2,100 shares of its own stock on the open market at $42 per share. Bramble uses the cost method for treasury stock Bramble declared a 5% stock dividend for stockholders of record on January 15, 2021, to be issued on January 31, 2021. Bramble was having a liquidity problem and could not afford a cash dividend at the time. Bramble's common stock was selling at 548 per share on December 15, 2020 Bramble sold 540 shares of its own common stock that it had purchased on November 30, 2020, for $25,000 Preferred Stock Bramble issued 41.500 shares of preferred stock at 547 per share on July 1, 2019. Cash Dividends Bramble has followed a schedule of dedaring cash dividends in December and June, with payment being made to stockholders of record in the following month. The cash dividends which have been declared since inception of the company through June 30, 2021. are shown below,