7. Brandon health food has 100,000 shares of $2 par common stock outstanding, which were issued at $12 per share. Brandon also has a deficit balance in retained earnings of $85,000. how much is brandons total stockholders equity?

A. $35,000

B. $120,000

C. $205,000

D. $20,000

8. Chewning Corporation has 11,000 shares of 5%, $10 par cumulative preferred stock and 50,000 shares of common stock outstanding. Chewning declared no dividends in 2017 and had no dividends in arrears prior to 2017. in 2018 chewning declares a total dividend of $500,000. How much of dividends go to the common stockholders?

A. $44,500

B. $39,000

C. $50,000

D. none;it all goes to preferred stockholders

3. Sydney park fitness gym has $400,000 of 10 year bonds payable outstanding. These bonds had a discount of $32,000 at issuance, which was 5 years ago. The company uses the straight line amortization method. the current carrying amount of these bonds payable is

A. $384,000

B. $368,000

C. $416,000

D. $400,000