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Stockholders Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding P
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Beginning Jan 5 Mar 20 Apr 5 July 5 July 31 Aug 14 Oct 5
Number of shares outstanding 40000 40000

40000-3000Treasury stock repurchased

37000

37000 37000

37000[1+.20stock dividend]

44400

44400 44400
Amount of cash dividend (number of shares *amount of cash dividend)

40000*.5

20000

37000*.5

18500

37000*.5

18500

44400*.5

22200

**Dividend is payable on shares issued and outstanding

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