Question
Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2015, 100 shares of preferred
Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2015, 100 shares of preferred stock and 1,800 shares of common stock have been issued. The following transactions affect stockholders equity during 2015: March 1
April 1
June 1 Declare a cash dividend on both common and preferred stock of $0.60 per share to all stockholders of record on June 15. June 30
August 1 Repurchase 200 shares of common treasury stock for $14 per share. September 1 Reissue 100 shares of treasury stock purchased on August 1 for $16 per share.
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