1. Amelia Corporation has the following information in its financial statement:

Preferred Stock 6%, $100 par, cumulative, 10,000 shares authorized	$	540,000
Common Stock, $2 par, 400,000 shares authorized, 320,000 issued		640,000
Paid-in-Capital Preferred		760,000
Paid-in Capital Common		2,560,000
Retained earnings		2,373,400

If Amelia did not pay a dividend for the last two years, but declared a $250,000 dividend this year, how much will the common stockholders receive?

2. Treasury stock:

a.Decreases total stockholders' equity.

b. Increases total stockholders' equity.

c.Is an asset.

d.Does not change total stockholders' equity.

3. The two basic characteristics of estimated liabilities are:

a.Known to exist and amount unable to be determined until a later date.

b.Probable and non-interest bearing.

c.Probable and reasonably estimated.

d.Known to exist and interest bearing.