Mayan Company had net income of $32,670. The weighted-average common shares outstanding were 9,900. The company declared a $4,600 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions. The company's earnings per share is:

Multiple Choice

• $3.51.

• $2.59.

• $3.76.

• $3.30.

• $2.84.

Sweet Companys outstanding stock consists of 1,900 shares of cumulative 5% preferred stock with a $100 par value and 11,900 shares of common stock with a $10 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends.

	Dividend Declared
Year 1	$	3,900
Year 2	$	7,900
Year 3	$	41,500

The total amount of dividends paid to preferred and common shareholders over the three-year period is:

Multiple Choice

• $17,400 preferred; $35,900 common.

• $9,500 preferred; $43,800 common.

• $19,000 preferred; $34,300 common.

• $28,500 preferred; $24,800 common.

• $22,900 preferred; $30,400 common.

A machine with a cost of $132,000 and accumulated depreciation of $87,000 is sold for $51,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:

Multiple Choice

• $45,000.

• $51,000.

• Zero. This is a financing activity.

• $6,000.

• Zero. This is an operating activity.