Old MathJax webview

Qu. 11-106 Hazelnut Corporation had 40,000 shares of $4 par value... elnut Corporation had 40,000 shares of $4 par value common stock outstanding on January 1. On January 20, the per share. On July 3, the company reissued 2,000 of the shares at $20 per share. Hazelnut uses the cost method company paid a dividend of $5 per share on August 3. What is the total amount of the dividends that would be paie Multiple Choice $180,000 $152.000 $190,000 $200,000 5 Heads Up Company was started several years ago by two hockey instructors. The company's comparative balance sheets and income statement follow, along with additional information. Current Year Previous Year 01:15:13 $ 5,980 840 4,840 (1,380) $19, 280 $ 660 562 $ 3,860 1,630 4,400 (1,190) $ 8,7ee 1,5ee Balance Sheet at December 31 Cash Accounts Receivable Equipment Accumulated Depreciation-Equipment Total Assets Accounts Payable Salaries and Wages Payable Note Payable (long-term) Common Stock Retained Earnings Total Liabilities and Stockholders' Equity Income Statement Service Revenue Salaries and Wages Expense Depreciation Expense Income Tax Expense Net Income 4,400 3,160 $10,280 $ 1,100 750 580 4,400 1,950 $ 8,700 $40,700 38,200 190 1,100 $ 1,219 Additional Data: a. Bought new hockey equipment for cash, $440. b. Borrowed $1,000 cash from the bank during the year. c. Accounts Payable includes only purchases of services made on credit for operating purposes. Because there are no liability accounts relating to income tax, assume that this expense was fully paid in cash. Required: 1. Prepare the statement of cash flows for the current year ended December 31 using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)