Common Stock 5,000,000 shares authorized, 1,500,000 issued $180,000 Capital in excess of par value $15,000,000 Treasury Stock on Common 30,000 shares $303,600 Cumulative Preferred Stock 2,000,000 shares authorized, 500,000 issued $2 Dividend $10 par, $5,000,000 Capital Surplus [Excess of paid in Capital] $12,500,000 Treasury Stock on Preferred Stock 25,000 shares $875,000 Retained Earnings

1. If Slack were to provide for a 12% common stock dividend, then how many new shares are to be issued to existing Slack shareholders?

2. Assume in question 1 above that the market price of common stock was $20 at the time of the dividend. What is the journal entry?

3. Using the equity statement above determine the total amount of cash dividends that Slack could pay out as still exist as a corporation?

4. What is Slacks total equity per the balance sheet listed above?