28. Use the incomplete stockholders' equity section of Box Companys balance sheet as of December 31, 2016, to answer the following question. Common stock, $7 par, 100,000 shares authorized $ 700,000 Additional paid-in capitalcommon 160,000 Retained earnings ? Treasury stock (2,000 shares at cost) (16,000) Total stockholders' equity 974,000

How many shares of common stock are outstanding? a. 100,000 b. 98,000 c. 78,000 d. 68,000

30. On January 1, 2016, Bogart Acres Company issued 10,000 shares of 10%, $20 par value cumulative preferred stock. In 2016 and 2017, no dividends were declared on preferred stock. In 2018, Bogart had a profitable year and decided to pay dividends to stockholders of both preferred and common stock. If it has $200,000 available for dividends in 2018, how much could it pay to the common stockholders? a. $140,000 b. $160,000 c. $180,000 d. $200,000

32. If a company purchases treasury stock for $10,000 and then reissues it for $3,000, the difference of $7,000 is a. treated as a gain on the sale. b. treated as a loss on the sale. c. an increase in stockholders' equity. d. a decrease in stockholders' equity.

34. All of the following statements are true about a 3-for-1 split, except: a. Total contributed capital increases. b. The market price will probably decrease. c. Par value per share is reduced to one-third of what it was before the split. d. A stockholder with twenty shares before the split owns sixty shares after the split.