Eastline Corporation had 17,000 shares of $10 par value common stock outstanding I when the board of directors declared a stock dividend of 5,780 shares. At the time of the stock dividend, the market value per share was $16. The entry to record this dividend is: 01:21:10 Multiple Choice Debit Retained Earnings $92,480; credit Common Stock Dividend Distributable $92,480. O Debit Retained Earnings $57,800; credit Common Stock Dividend Distributable $57,800. No entry is needed. Debit Common Stock Dividend Distributable $92,480; credit Retained Earnings $92,480. Debit Retained Earnings $92,480; credit Common Stock Dividend Distributable $57,800; credit Paid- In Capital in Excess of Par Value, Common Stock $34,680. 12 01:19:45 A company's income statement showed the following: net income, $135,000; depreciation expense, $35,500; and gain on sale of plant assets, $9,500. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $10,500; merchandise inventory increased $23,500; prepaid expenses increased $7,300; accounts payable increased $4,500. Calculate the net cash provided or used by operating activities. Multiple Choice $175,800. O $149,800. $145,200. $154,600. $147,800. 17 Bagwell's net income for the year ended December 31, Year 2 was $199,000. Information from Bagwell's comparative balance sheets is given below. Compute the cash received from the sale of its common stock during Year 2. At December 31 03 01:18:31 Year 2 Year 1 $514,000 $462,600 Common Stock, $5 par value Paid-in capital in excess of par Retained earnings 962,000 865,600 702,000 594,600 Multiple Choice $107,400. $96,400. $147,800. $199,000. $51,400. 9 03 01:20:58 Ultimate Sportswear has $280,000 of 7% noncumulative, nonparticipating, preferred stock outstanding. Ultimate Sportswear also has $680,000 of common stock outstanding. In the company's first year of operation, no dividends were paid. During the second year, the company paid cash dividends of $48,000. This dividend should be distributed as follows: Multiple Choice $25,000 preferred; $23,000 common. $0 preferred; $48,000 common. $12,000 preferred; $36,000 common. $19,600 preferred; $28,400 common. $24,000 preferred; $24,000 common