On January 1, Molini Corporation had 95,200 shares of no-par common stock issued and outstanding. The stock has a stated value of $7 per share. During the year, the following occurred.
Apr. 1 Issued 25,900 additional shares of common stock for $17 per share.
June 15 Declared a cash dividend of $2 per share to stockholders of record on June 30.
July 10 Paid the $2 cash dividend.
Dec. 1 Issued 2,200 additional shares of common stock for $20 per share.
Dec. 15 Declared a cash dividend on outstanding shares of $1.10 per share to stockholders of record on December 31.