Jet Company's summarized financial statement information for the beginning of the year is as follows: Marketable Securities $50,000 All Other Assets $150,000 Total Liabilities $80,000 Total Stockholders' Equity $120,000 During the year, Jet had Revenue of $75,000, Expenses of $55,000 and paid cash dividends of $10,000. Marketable Securities increased in value by 10%, liabilities remained unchanged for the year and Jet had 15,000 shares outstanding all year. Calculate the information that Jet would report on its financial statements at the end of the year. B D E 1 2 Net Income 3 4 Total Assets Total Liabilities Total Equity= EPS= 5 6 7 8 9 10 ! Required information [The following information applies to the questions displayed below.) Homestead Oil Corp. was incorporated on January 1, 2019, and issued the following stock for cash: 720,000 shares of no-par common stock were authorized; 150,000 shares were issued on January 1, 2019, at $19.00 per share. 260,000 shares of $90 par value, 9.00% cumulative, preferred stock were authorized; 75,000 shares were issued on January 1, 2019, at $130 per share. Net income for the years ended December 31, 2019 and 2020 was $1,300,000 and $2,460,000, respectively. No dividends were declared or paid during 2019. However, on December 28, 2020, the board of directors of Homestead declared dividends of $1,720,000, payable on February 12, 2021, to holders of record as of January 19, 2021. b. Of the total amount of dividends declared during 2020, how much will be received by preferred shareholders? Dividends received by Preferred shareholders