The stockholders equity section of Ardvark Corporation s December 31, 2002, balance sheet included the following items:
|
Common stock ($20 par, 250,000 shares authorized, |
|
|
50,000 shares issued and outstanding).. |
$1,000,000 |
|
Paid in capital in excess of par, common stock |
1,500,000 |
|
Retained earnings. |
2,000,000 |
Record the following transactions for 2003:
a. On March 1, Ardvark declared and issued a 25% stock dividend on common stock. The market price of the stock was $40 per share on that date.
b. On June 30, a 4 for 1 stock split was declared.
c. On September 15, a 10% stock dividend on common stock was declared and distributed.
The market price of the stock was $30 per share on the dividend date.