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Houghton Company began business on January 1, 2015 by issuing all of its 1,000,000 authorized shares of its $1 par value common stock for $20 per share. On June 30, Houghton declared a cash dividend of $1 per share to stockholders of record on July 31. Houghton paid the cash dividend on August 30. On November 1, Houghton reacquired 200,000 of its own shares of stock for $25 per share. On December 22, Houghton resold 100,000 of these shares for $30 per share.
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