16. At the beginning of the year, the Lincoln Logging Company had 10,000 shares of $1 par value common stock outstanding. During the year, it engaged in the following transactions related to its common stock, so that at year end, it had 32,600 shares outstanding:

March 30Issued 2,300 shares of common stock

June 1 - Repurchased 3,100 shares of common stock

October 31 - Issued a 3 for 1 stock split, reducing the par value to $0.33/share

December 1 - Issued 5,000 shares of common stock

Compute the Lincoln Logging Company's weighted average common shares outstanding.

1. 25,858
2. 26,514
3. 27,600
4. 30,167
5. 32,600

17. The Roosevelt Car Company has determined that it will pay a total cash dividend of $80,000. Roosevelt has 1,000 shares of 5%, $100 par, cumulative, non-participating preferred stock with two years of dividends in arrears, currently selling for $131/share, and 20,000 shares of no-par, no stated value common stock issued and outstanding, currently selling for $15/share.

How much cash dividend will be paid on each share of common stock?

1. $3.02
2. $3.25
3. $3.50
4. $3.75

E. $4.00