I need help with the questions that have the red X next to them.

Pranks, Inc. is a manufacturer of joke and novelty products for perpetrators of practical jokes. The corporation has paid several cash dividends throughout 2016, the current year. It is also declaring a stock dividend to its stockholders as the calendar year-end approaches. Youve been brought in as a consultant to assist with this process, and also to help determine whether some missing information can be calculated before the distribution of the stock dividend is made. The company has two classes of stock: common stock and cumulative preferred stock.

Youve been able to retrieve the following information so far:

Number of common shares authorized	800,000
Number of common shares issued	500,000
Par value of common shares	$20
Par value of cumulative preferred shares	$30
Paid-in capital in excess of par-common stock	$7,000,000
Paid-in capital in excess of par-preferred stock	$0
Total retained earnings before the stock dividend is declared	$33,500,000

	Total Cash	Preferred Dividends		Common Dividends
Year	Dividends	Total	Per Share	Total	Per Share
2011	20,000	20,000	0.20	0	0.00
2012	36,000	36,000	0.36	0	0.00
2013	79,000	34,000	0.34	45,000	0.09
2014	105,000	30,000	0.30	75,000	0.15
2015	120,000	30,000	0.30	90,000	0.18
2016	180,000	30,000	0.30	150,000	0.30

In which years has Pranks, Inc. paid cumulative preferred dividends in arrears? 2012 and 2013

Fill in the answers below.

How many shares of common stock are outstanding? 500,000
How many shares of preferred stock are outstanding? 100,000
What is the preferred dividend as a percent of par? 1%

Stock Dividend he company do ared a corn on stock dvidend on Decem and would le you to c date he fol o ng pieces of missing mformation The market va $24 on Doornber 1 and 30.00 on the actual str bution date of he B O k Doom ber 31. e of he co mmon share" e declared. Al dividend was and closing entries Flinthe missinginer at belon using the informa o given and your wo korthe other panels. Ag ekre Berns are before the s ock didend was amer Ren sare aner e stock declared and closing entries were recorded at the end of the year re Derove $20,000,000 Total paid-n capital before the slock dividend Total retained earnings before the stock dividend Total stockholdars eguity before the stock dvidand Total paid-n capital after the stock dividend Total rotainod earnings after the stook dividond Total stockholders equity after the stock dividend 33,500,000 $53,500,000 $20,000,000 X 1,100,000 X $56,500,000 X Points3/6 Feedback Check My Work the issuance of Review the definitions of paid-in capal, retained earnings, and stockholders' equity. Also look 8t how stock vidends changes these amounts