20. Calculate ending retained earnings as of 12/31/20from the below info from 2020 (not all information will be used):

Net income $185,000

Retained earnings 1/31/20 $1,585,000

Equipment purchased $85,000

Bond principal payments $25,000

Proceeds from long-term debt $130,000

Cash dividends paid $120,000

Stock dividends issued $150,000

21. Ellie Inc. has 6% cumulative preferred stock, $10 par value, 20,000 shares authorized, 12,000 shares issued and outstanding. Calculate the following:

(a). Annual dividend payment.

(b). If dividends were not paid out for the last 2 years, what would the total dividend payment be this year?

(c). If only 10,000 shares were outstanding, how many shares would be considered treasury stock?