Question
11. Mambo Corporations December 31, 2020 balance sheet showed the following Shareholder Equity: Paid in Capital: 8% preferred stock, $20 par value, cumulative $ 150,000
11. Mambo Corporations December 31, 2020 balance sheet showed the following Shareholder Equity:
Paid in Capital: | |
8% preferred stock, $20 par value, cumulative | $ 150,000 |
Common stock, $10 par value | 500,000 |
Additional Paid-in capital in excess of parP/S | 200,000 |
Additional Paid-in capital in excess of parC/S | 900,000 |
Total Paid In Capital | 1,750,000 |
Retained Earnings | 2,000,000 |
Total Shareholders' Equity | $ 3,750,000 |
A 12% common stock dividend is declared when the market price is $16. Mambo will issue _______ shares of common stock at date of payment?
12. SoCal Company Income Statement Year Ended December 31, 2021
Sales | $ 249,000 | |
Interest Revenue | 2,300 | |
Gain on the Sale of Land | 5,300 | |
Total Revenues & Gains | $ 256,600 | |
Cost of Goods Sold | 124,000 | |
Salary Expense | 43,000 | |
Depreciation Expense | 14,000 | |
Other Operating Expenses | 20,000 | |
Interest Expense | 1,600 | |
Income Tax Expense | 5,100 | |
Total Expenses & Losses | ( 207,700 ) | |
Net Income | $ 48,900 |
Additional information provided by SoCal Company includes the following:
- Current assets, other than cash, increased by $21,000
- Current liabilities decreased by $1,200
Net cash inflow from Operating Activities is:
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