Fargo Company's outstanding stock consists of 900 shares of noncumulative 5% preferred stock with a $10 par value and 3,500 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends.

	Dividend Declared
year 1	$	25,000
year 2	$	8,000
year 3	$	34,000

The amount of dividends paid to preferred and common shareholders in year 1 is:

Multiple Choice

• $450 preferred; $24,550 common.

• $25,000 preferred; $0 common.

• $12,500 preferred; $12,500 common.

• $9,000 preferred; $16,000 common.

• $22,000 preferred; $3,000 common.

A company had a beginning balance in retained earnings of $424,000. It had net income of $62,000 and paid out cash dividends of $67,000 in the current period. The ending balance in retained earnings equals:

Multiple Choice

• $362,000.

• $553,000.

• $429,000.

• $491,000.

• $419,000.

The following data has been collected about Keller Company's stockholders' equity accounts:

Common stock $10 par value 22,000 shares authorized and 11,000 shares issued, 1,200 shares outstanding	$110,000
Paid-in capital in excess of par value, common stock	52,000
Retained earnings	27,000
Treasury stock	14,040

Assuming the treasury shares were all purchased at the same price, the number of shares of treasury stock is:

Multiple Choice

• 27,000.

• 110,000.

• 9,800.

• 52,000.

• 22,000.