A company acquires 1,000 shares of its own stock when the stock is trading for $20 in April. In June, it reissues 100 shares at $30 per share. How much would go into the treasury stock account?

a. $30,000

b. $18,000

c. $20,000

d. $3,000

Assume that a company has 40,000 shares of preferred stock where the annual dividend rate is $0.50 per share, and $20,000 in total. Assume further that the company has not paid dividends for the previous two years. If the companys stock were non-cumulative, how much dividend would the stockholders receive in the current year?

a. $60,000

b. $10,000

c. $20,000

d. None of these choices are correct.