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How do I calculate the dividend to pay on December 18 with the information listed? Stockholders Equity: Transactions and Statement The stockholders equity section of

How do I calculate the dividend to pay on December 18 with the information listed?

Stockholders Equity: Transactions and Statement The stockholders equity section of Night Corporations balance sheet at January 1 follows:

Common stock, $5 par value, 300,000 shares authorized, 60,000 shares

$300,000

issued, 6,000 shares in treasury

Additional paid-in capital

In excess of par value

$480,000

From treasury stock

30,000

510,000

Retained earnings

348,000

1,158,000

Less: Treasury stock (6,000 shares) at cost

138,000

Total Stockholders Equity

$1,020,000

The following transactions affecting stockholders equity occurred during the year:

Jan.

8

Issued 15,000 shares of previously unissued common stock for $21 cash per share.

Mar.

12

Sold all of the treasury shares for $28 cash per share.

June

30

Declared a five percent stock dividend on all outstanding shares of common stock. The market value of the stock was $25 per share.

July

10

Issued the stock dividend declared on June 30.

Oct.

7

Acquired 2,500 shares of common stock as treasury stock at $26 cash per share.

Dec.

18

Declared a cash dividend of $1.00 per outstanding common share, payable on January 9 to stockholders of record on December 31.

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