20. Gregs Grocery, Inc. has 48,000 shares of common stock outstanding and 5,000 shares of preferred stock outstanding. The common stock is $5.00 par value; the preferred stock is 8% noncumulative with a $100.00 par value. On October 15, 2017, the company declares a total dividend payment of $57,000. What is the amount of dividend that will be paid for each share of common stock?(Round your answer to the nearest cent.)

A. $24.00

B. $2,400.00

C. $0.84

D. $0.35

21.Carpenter Schools, Inc. is authorized to issue 500,000 shares of $2 par common stock. The company issued 106,000 shares at $6 per share. When the market price of common stock was $10 per share, Carpenter declared and distributed a 10% stock dividend. Later, Carpenter declared and paid a $0.10 per share cash dividend. What is the amount of cash dividend?

A. 21,200

B. 10,600

C. 42,400

D. 11,660

25. The financing section of the statement of cash flows involves transactions relating to the equity accounts and the long-term liability accounts.

True

False