Salisbury Corporation formed a corporation on January 3, 2017, and is authorized to issue 600,000 shares of $5 par value common stock. The company has the following stock transactions.

1/10/17 Issued 225,000 shares of stock at $22 per share.

1/25/17 The law firm that helped the company incorporate and file all forms for the stock issue accepts 1,200 shares of newly issued stock in lieu of cash for its legal bill rendered. The amount of the legal bill was $30,000.

6/10/17 Salisbury Corporation declares a $0.60 per share dividend payable July 15 to shareholders of record as of June 30, 2016.

6/30/17 The record date for the dividend declared on June 10.

7/15/17 The dividend declared on June 10 is paid.

9/15/17 Salisbury Corporation declares a 12% stock dividend payable on September 30 to shareholders of record as of September 20. The market value of the stock was $16 immediately prior to the declaration of the stock dividend.

9/30/17 The stock dividend declared on September 15 is paid.

10/15/17 Salisbury Corporation buys 8,000 shares of its own stock on the open market for $17.50 per share.

12/18/17 Salisbury Corporation resells 3,000 shares of the treasury stock for $19.75 per share.