Response to the following problem:
Identify the effects of the following transactions on total stockholders' equity.
Each transaction is independent.
a. Issuance of 50,000 shares of $10 par common at $15.
b. Purchase of 1,000 shares of treasury stock (par value $0.50) at $5 per share.
c. A 10% stock dividend. Before the dividend, 500,000 shares of $1 par common stock were outstanding; market value was $7 at the time of the dividend.
d. Sale of 600 shares of $1 par treasury stock for $5 per share. Cost of the treasury stock was $2 per share.
e. A3-for-1 stock split. Prior to the split, 60,000 shares of $4 par common were outstanding.