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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:

  1. Current assets, other than cash, increased by $21,000
  2. Current liabilities decreased by $1,200

Net cash inflow from Operating Activities is:

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