Pearson began 2012 with 30,000 $1 common shares issued and outstanding. Paid in capital in excess of par was $25,000 and retained earnings were $175,000. Net income for 2012 was $22,000. Pearson Wood Supplies completed the following transactions for 2012

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Pearson began 2012 with 30,000 $1 common shares issued and outstanding. Paid in capital in excess of par was $25,000 and retained earnings were $175,000.  Net income for 2012 was $22,000. Pearson Wood Supplies completed the following transactions for 2012. 
              
Jan2Issued 10,000 shares $1 par common stock for $10 per share      
 6Declared a cash dividend on  5,000 shares of 5% $4 par preferred stock and a $.20 per share dividend on 40,000 shares of common stock outstanding.  
  The date of record is January 15 and the date of payment is Jauary 20.     
 20Paid the cash dividend         
March15Declared a 2-for-1 stock split by calling in the 40,000 shares of $1 par common stock and issuing new stock in its place 
April10Declared and distributed a 10% stock dividend on the common stock when the market value was $12 per share  
June 14Purchased 1,000 shares of common stock for the treasury for $13 per share     
Dec22Sold 500 treasury shares for $15 per share        
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