Good Fellows Corporation reported the following in the stockholders' equity section of its balance sheet at December 31, 2002: 5% Preferred stock, par value $10 $ 20,000 Common stock, par value $.50 10,000 Additional paid-in capital 50,000 Total contributed capital 80,000 Retained earnings 20,000 Total Stockholders' Equity $100,000

1. The total number of shares of common stock outstanding at December 31, 2002 is?

2. On June 30, 2003 Good Fellows Corporation reacquired 2,000 shares of common stock when the market value was $10 per share. Total stockholders' equity following the purchase would be?

3. Good Fellows Corporation plans to distribute $20,000 in dividends. If the preferred stocks are cumulative and participating how much will be distributed to preferred and common shareholders?

4. On August 21, 2003 the company resold the shares acquired on June 30, 2003 at $12 per share. As a result of reselling the treasury stock the company will report: