Shareholders Equity Presented below is information related to NewCo Corp shareholder transactions during 2023: 1. On January 1, the company was formed, and was authorized to issue 350,000 shares of $4 par value common stock. 2. On January 2,175,000 shares were issued for $16 per share. 3. On March 31, NewCo issued a 2:1 stock split. 4. On April 15, NewCo issued and distributed a 4% stock dividend, when the shares were valued at $32 per share. Shareholders with fractional shares were paid cash (totaling 1,050 equivalent whole shares). 5. On June 30 , NewCo declared a cash dividend of $0.25, payable to the shareholders of record on July 15 , to be paid on July 25. 6. On August 2, the company purchases 4,375 shares of the common stock outstanding at $29 per share and retired the shares. 7. On August 15 , the company purchases 4,813 shares of the common stock outstanding at $38 per share and retired the shares. 8. On December 1 , the board of directors declared a property dividend consisting of corporate bonds of Lopez Corporation that NewCo Corp was holding as an investment. The bonds were originally purchased for $1.75 million were classified as held-to-maturity investments. The bonds currently have a fair value of $1.65 million. The property dividend was payable to shareholders of record December 15 , and distributed on December 31..