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problem: On January 1, 2008, Dolan Corporation had 60,000 shares of $1 par value common stock issued & outstanding. During the year, following transactions occurred: Mar. 1 Issued 20,000 shares of common stock for $400,000. June. 1 Declared a cash dividend of $2.00 per share to stockholders of record on June 15. June 30 Paid the $2.00 cash dividend. Dec. 1 Purchased 4,000 shares of common stock for the treasury for $22 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.25 per share to stockholders of record on December 31.
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