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27 Company D announces that it has 5,000,000 shares authorized and issued. In its initial public offering 3,000,000 of these shares were offered to the

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27 Company D announces that it has 5,000,000 shares authorized and issued. In its initial public offering 3,000,000 of these shares were offered to the public. This leaves 2,000,000 yet to be offered and so they are not outstanding." Three years after the public offering Company D repurchased 1,700,000 shares. The Company continues to hold them for possible reissuance. They have NOT been retired. There has been no other activity in Common Stock other than its normal trading in the market. For purposes of measuring Dividends how many shares should be counted as outstanding?" (These are the shares on which a dividend will be paid.) 28 The company announces, or declares a $6 per share dividend on November 1 of its third fiscal year. On this declaration date, what amount should be entered in the Income Statement as an expense? 29 Using the info in question # 28, what amount should be used to Debit Retained Earnings for the Dividend Declared on this Declaration Date? 30 Continuing with the info from # 28 and # 29 above, the dividend payment date announced by the Board, is December 20th of this year. What should be the Credit to Cash when dividends are paid to shareholders "of record?" 31 Define Comprehensive Income 32 Define Earnings

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