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Problem - Milo Corporation completed the following selected transactions during the current year:
Mar 3 - Distributed a 13% stock dividend on the 90,000 common shares outstanding. The market price of the common shares was $27 per share.
May 16 - Declared a cash dividend on the $6 preferred shares (1,700 shares outstanding).
May 30 - Paid the cash dividends.
Dec 8 - Issued 2,600 common shares for $32 per share.
Dec 19 - Issued 19,000 common shares for $30 per share.
Analyze each transaction in terms of its effect (in dollars) on the accounting equation of Milo Corporation.
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