1. On 1/1/2017, the beginning of the 2017 annual accounting period, Just Hip, Ltd. had a Retained Earnings balance of $4,920. For the three years of 2017, 2018 and 2019, the company reported the following information:

Year	Net Income (Loss)			Dividends
2017		($2,010)		$	0
2018		$3,575			$90
2019		$5,195			$215

1. None of the answers given are correct.
2. $4, 980
3. $6,455
4. $15,395
5. $11, 375

2. The beginning balance of Are You Ready, Co.s Accounts Receivable on 3/1/2019 was $21,420. During March, the company had the following transactions:

• Issued 9,000 shares of common stock at par value for $18,000 cash.
• Provided services to customers worth $19,110 on account.
• Purchased equipment for $7,450, paying cash.
• Purchased additional supplies worth $990 on account.
• Received cash of $17,650 from customers for services provided during the month.
• Paid creditors $775 for supplies previously purchased on account.
• Paid employees $9,200 in cash for March salaries.

What was the balance of the companys Accounts Receivable account as of 3/31/2019 following these transactions? (Show math work)

1. $21,205
2. $23,095
3. $22,880
4. $19,960
5. $21,365

3.P.S. Ltd. began operations in 2016. On 1/1/2016, the company issued 15,000 shares of 5%, $18 par value preferred stock and 95,000 shares of common stock. The company was not able to pay dividends in 2016, 2017, or 2018. However, in 2019, the company declared it will pay dividends to shareholders totaling $90,000. Assuming the preferred stock is cumulative, how much of the $90,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in 2019? (Show math work)

1. $45,000 to preferred stockholders and $45,000 to common stockholders.
2. $0 to preferred stockholders and $90,000 to common stockholders.
3. $54,000 to preferred stockholders and $36,000 to common stockholders.
4. $90,000 to preferred stockholders and $0 to common stockholders.
5. $13,500 to preferred stockholders and $76,500 to common stockholders.