List 2 corporate characteristics that are considered advantageous.

List 2 corporate characteristics that are considered disadvantageous.

. What is the meaning of legal capital?

Why are corporations required to have legal capital?

. Why would a corporation issue both common and preferred stock?

If a corporation issued 50,000 shares of $100-par value, 8% preferred stock, what is the annual PER SHARE dividend on the preferred stock?

. Describe how the cumulative feature of preferred stock works.

. Why is disclosing dividends in arrears on preferred stock important?

. What is callable preferred stock? Why would a corporation issue callable preferred?

List 2 reasons that a corporation would purchase back issued shares as treasury shares.

What is the pre-emptive right of common shareholders?

. What is a prior period adjustment? On which financial statement is it reported?

. What is a retained earnings restriction?

How are retained earnings restrictions disclosed on the financial statements?

How is basic earnings per share computed?

. Under what conditions must diluted earnings per share also be computed?

How is diluted earnings per share computed?

. What is the difference between net income and comprehensive income?

List one way in which comprehensive income can be disclosed in the financial statements.