1. Johnson Inc began operations in 201. In that year, the company earned net income of $145,000 and paid dividends of $1.25 per share on each of its 30,000 outstanding common shares. Calculate retained earnings at the end of 20X1. 2. Continue with Johnson Inc. from #1. In the following year, Johnson incurred a loss of $127,000 and paid no dividends. Calculate retained earnings or deficit at the end of 202. 3. Blaine Corporation had $200,000 in retained earnings at the end of 202. It started the year with $100,000 of retained earnings. During 202, the company paid dividends of $20,000. Calculate the net income for the year. 4. Princess Company has the following shareholders' equity on its balance sheet: a. Calculate the total annual preferred dividend entitlement. b. Calculate the total amount of contributed capital. c. If the company paid total dividends of $120,000 in the year, and there were no preferred dividends owing from past years, how much did the common shareholders receive per share? d. Calculate the market price of the common shares. e. Which shareholders have the right to vote for the Board of Directors? 5. Suppose that Company X reported earnings of $100,000 and paid dividends of $40,000 in 201. What happened to the remainder