BUS 203 - Review D 6. Treasury Stock that is reissued at an amount greater than cost will have whatan the following financial statement elements: 1 = increase D=Decrease NE = No effect tained Income Stockholders' Paid-in Retained Assets Liabilities Equity Capital Earnings Income NENE NE NE NE NE CINE I NENE d. NE NE NE 7. Grayco Inc. had the following classes of stock outstanding as of December 31, 2019: - Common Stock, $20 par value, 50,000 shares outstanding - Preferred Stock, 8%, 100 par value, cumulative, non-participating 1,000 shares outstanding Dividends on Preferred Stock have been arrears for 2017 and 2018. On December 31, 2019, a total cash dividend of $80,000 was declared. What are the amounts of dividends payable on both the preferred and common stock respectively? a. $24,000 and $56,000 b. $16,000 and $64.000 c. $24,000 and $36,000 d. $80,000 and $0 8. The declaration of a cash dividend would have what effect on the financial elements: 1 = Increase D=Decrease NE = No effect # Assets Liabilities a. D bD C. NEL Stockholders' Pald-in Retained Net Equity Capital Earnings Income DNE D D DNED DNED NE DNEDD NE