Thomas Nelson, Inc., is a publisher of Bibles and other religious materials. Thomas Nelson, Inc., had the following statement of stockholders' equity for the fiscal year ended March 31, 2004:

a. What is the par value of the common stock? Round to the nearest dollar.
b. How much did employees pay per share for common stock under the option plan?
Round to the nearest cent.
c. Record the entry for the common stock issuance under the option plan.
d. Record the summary entry for the dividends declared during the year.
e. Does the dividend seemsustainable?

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Thomas Nelson, Inc. Statement of Stockholders' Equity For the Fiscal Year Ended March 31, 2004 (in thousands, except per-share data) Class B Additional Paid-In Capital $44,064 Retained Earnings $29,385 87,824 Common Common Stock Stock Total Balance at March 31, 2003 Net and comprehensive $13,350 1,025 income 16,165 16,165 Class B stock converted to common 62 (62) Common stock issued: Option plans-90,823 common shares Dividends declared- $0.12 per share 91 633 724 (1.731) $43,819 $102,982 Balance at March 31, 2004 13,503 963 $44,697