#4 - The following information relates to the number of common shares of Marengo Corporation:

80,000 Authorized Shares 30,000 Unissued Shares 5,000 Treasury Shares

Calculate the number of outstanding shares from the information given. Show your calculations and clearly identify your answer in order to earn full points.

#5 - If Henry and Kates Company has $300,000 of sales revenue, pays $50,000 in dividends and has net income of $100,000, how much were the expenses for the year? Show your work in order to earn full points.

#6 - All of the following will affect the balance of Retained Earnings except a. Expenses incurred

c. Revenues earned b. Dividends declared

d. Investments by stockholders