1. A machine with a cost of $110,000 has an estimated residual value of $15,000 and an estimated life of 6 years or 19,000 hours. What is the amount of depreciation for the second full year, using the double-declining-balance method?

2.

The Torre Company has the following stockholders' equity account balances in stockholders equity on December 31.

Common Stock $5 par, 500,000 shares authorized	$310,000
Paid-In Capital in Excess of ParCommon Stock	660,000
Preferred Stock $100 par, 100,000 shares authorized	500,000
Paid-In Capital in Excess of ParPreferred	120,000
Retained Earnings	200,000
Treasury Stock (cost $10 per share)	100,000

How many shares of common stock are outstanding?

3.

The Torre Company has the following stockholders' equity account balances in stockholders equity on December 31.

Common Stock $5 par, 60,000 shares issued	$300,000
Paid-In Capital in Excess of ParCommon Stock	600,000
Preferred Stock $100 par, 5,000 shares issued	500,000
Paid-In Capital in Excess of ParPreferred	190,000
Retained Earnings	200,000
Treasury Stock (cost $10 per share)	130,000

If net income for the year was $95,000 and a preferred stock dividend of $35,000 was paid, what was the beginning value of retained earnings?