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At January 1, 2021, Bergeron Corporation had the following shareholders' equity: Share capital $1 Preferred shares, noncumulative, 25,000 shares authorized, 8,000 shares issued $160,000 Common
At January 1, 2021, Bergeron Corporation had the following shareholders' equity: Share capital
$1 Preferred shares, noncumulative, |
25,000 shares authorized, 8,000 shares issued | $160,000 |
Common shares, 1,000,000 shares authorized, |
50,000 shares issued | 750,000 |
910,000 |
Retained Earnings | 425,000 |
Total Shareholders' Equity | $1,335,000 |
On March 12, 2021, when the common shares have a market value of $18, the board of directors declared and paid a 10% common stock dividend. On July 31, 2021, the board declared a 2-for-1 stock split on the common shares. During the year, the company paid cash dividends of $80,000 and reported profit of $435,000. The number of common shares issued at December 31, 2021 is
Select one:
A.
100,000.
B.
2,000,000.
C.
55,000.
D.
110,000.
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