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On January 1, 2021, Artline Corporation had the following information available regarding its stockholders' equity: 5%, $? par, cumulative Preferred Stock, 700,000 shares authorized,
On January 1, 2021, Artline Corporation had the following information available regarding its stockholders' equity: 5%, $? par, cumulative Preferred Stock, 700,000 shares authorized, 350,000 shares issued Paid-in Capital in Excess of Par - Preferred Stock Common Stock, $6 par, 900,000 shares authorized, ? shares issued, ? shares outstanding Paid-in Capital in Excess of Par - Common Stock Paid-in Capital from Treasury Stock Transactions. Treasury Stock (50,000 shares @cost) Retained Earnings The following transactions affecting stockholders' equity took place during 2021: 2/4/2021 Issued 35,000 shares of preferred stock for $83/share. 3/17/2021 Issued 60,000 shares of common stock for $34/share. 4/24/2021 Declared a cash dividend to shareholders of record on May 15, 2021 payable on May 31, 2021. The preferred shareholders are to receive their contractual preference (no dividends are in arrears) and the common shareholders are to receive $2/share. Use separate payable accounts for preferred and common dividends. 5/31/2021 Paid the cash dividend. 7/3/2021 Sold all of the treasury stock for $33/share. 9/10/2021 Declared a 10% stock dividend on the common stock for shareholders of record September 30, 2021, to be issued on October 15, 2021. The market price of the common stock on September 10, 2021 was $40/share. 10/15/2021 Issued the shares in conjunction with the stock dividend. 11/4/2021 Declared a 3:1 stock split on the common stock. Authorized shares were adjusted to accommodate the split. 11/18/2021 Repurchased 25,000 shares of its own common stock for $11/share. 12/6/2021 Sold 16,000 shares of its treasury stock for $13/share. 12/14/2021 Closed out any and all dividend accounts. adjusted 12/31/2021 Closed $15,600,000 of revenues and 17,200,000 of expenses for fiscal 2021. Instructions CORRECTLY $ 26,250,000 2,400,000 3,120,000 18,200,000 35,000 1,850,000 77,600,000
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