Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. March 1 Issues 54,000 additional shares of $1 par value common stock for $51 per share.
May 10 Purchases 4,900 shares of treasury stock for $54 per share.
June 1 Declares a cash dividend of $1.45 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock).
July 1 Pays the cash dividend declared on June 1.
October 21 Resells 2,450 shares of treasury stock purchased on May 10 for $59 per share.
Required:
Record each of these transactions.

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.