35. If a corporation issues only one class of stock, it is called: a. common stock. b. treasury stock. C. no-par stock d. preferred stock 36. In which section of the balance sheet wouid treasury stock be reported? a. Fixed assets b. Long-term liabilities c. Stockholders' equity d. Intangible assets 37. A corporation has 200,000 shares of S100 par value stock outstanding. If the corporation issues a 2-for-1 stock split, the number of shares outstanding after the split will be 400,000 shares. 200,000 shares. 600,000 shares. 100,000 shares. a. b. c. d. Which of the following is listed under long-term liabilities? a. b. c. d. 38. Bonds payable due in 18 months Accrued interest payable Accounts payable Notes payable due in 90 days 39. A pressurized spray painter was purchased on April I of the fiscal year for $3,900. It has a useful life of 4 years and a residual depreciation expense for the first two years, assuming a fiscal year end of December 31 and using (al the straight-line method and (b) the double-declining-balance method. ANSWER (a) Straight-line method (b) Double-declining-balance method Year I: $ Year 2: S Year I: S Year 2:S 40 Based on the following information, what is earnings per share? Common shares outstanding Preferred stock dividend declred and paid $32,000 Net income a. $3,90 b. $3.50 c. $3.00 d. $3.10