1. Choice issues a new category of preferred stock on 12/15/19. They are authorized 10,000 shares issue and sell 5,000 shares. The par value is $0.001 and the stock was sold for $5 a share.
2. Choice decides to issue a $200,000 dividend on 12/31/19. The dividend will be paid to all owners on record 1/15/20. The payment date will be 1/31/20.
3. There are 625,000 shares of common stock authorized. 170,000 shares issued. 102,000 shares outstanding. All treasury stock is common stock held internally. Treasury stock is recorded at cost. Number 5 lists preferred stock details.