A corporation issues 6,000 shares of $5 par value common stock for $8 cash per share. The entry 1. to record this transaction includes: A debit to Paid-In Capital in Excess of Par Value for $18,000 b. A credit to Common Stock for $48,000 A credit to Paid-In Capital in Excess of Par Value for $30,000 d. A credit to Cash for $48,000 e. A credit to Common Stock for $30,000 a. C. A company reports net income of $75,000. Its weighted-average common shares outstanding is 19,000. It has no other stock outstanding. Its earnings per share is: 2. $4.69 a. b. $3.95 $3.75 C. d. $2.08 $4.41 e. A company has 5,000 shares of $100 par preferred stock and 50,000 shares of $10 par common stock outstanding. Its total stockholders' equity is $2,000,000. Its book value per common share 3. is: a. $100 b. $10 c. $40 d. $30 e. $36.36 4. Stockholder's equity of Ernst Company consists of 80,000 shares $5 par value, 8% cumulative preferred stock and 250,000 shares of $1 par value common stock. Both classes of stock have been outstanding since the company's inception. Ernst did not declare any dividends in the prior year, but it now declares and pays a $110,000 cash dividend at the current year-end. Determine the amount distributed to each class of stockholders for this two-year-old company. a. Preferred Stock Dividend: b. Common Stock Dividend