On May 1, 2018, Love Corporation declared a $87,000 cash dividend to be paid on May 31 to shareholders of record on May 15. Required: Record the events occurring on May 1 and May 31 in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. (Enter any decreases to account balances with a minus sign.) Balance Sheet Common Liabilities Stock LOVE CORPORATION Horizontal Statements Model Income Statement Retained Revenue Expense Earnings Statement of Cash Flow Date Assets Net Income + May 1 May 15 May 31 + The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2018, is as follows. $440, eee Stockholders' Equity Paid-in capital Preferred stock,? par value, 5% cumulative, 140,eee shares authorized, 44,880 shares issued and outstanding Common stock, $20 stated value, 190,eee shares authorized, 44,888?? shares issued and outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated value-Common Total paid-in capital Retained earnings Treasury stock, 5,800 shares Total stockholders' equity 880, eee 34,800 66,eee 1,420,00 299,000 (29,808) $1,681,800 Note: The market value per share of the common stock is $36, and the market value per share of the preferred stock is $16. Required a. What is the par value per share of the preferred stock? b. What is the dividend per share on the preferred stock? c. What is the number of common stock shares outstanding? d. What was the average issue price per share (price for which the stock was issued) of the common stock? t. If Mann Equipment Company declared a 2-for-1 stock split on the common stock, how many shares will be outstanding after the split? What amount will be transferred from the retained earnings account because of the stock split? Theoretically, what will be the market price of the common stock immediately after the stock split? Complete this question by entering your answers in the tabs below. Reg A to D RegF a.What is the par value per share of the preferred stock? B.What is the dividend per share on the preferred stock? (Round your answer to 2 decimal places.) c.What is the number of common stock shares outstanding? (Round your answer to nearest whole dollar.) d.What was the average issue price per share (price for which the stock was issued) of the common stock? Show less per share per share a. Par value b. Dividend c. Common stock d. Average issue price shares per share The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2018, is as follows. $440, eee Stockholders' Equity Paid-in capital Preferred stock,? par value, 5% cumulative, 140, shares authorized, 44, eee shares issued and outstanding Common stock, $20 stated value, 190,000 shares authorized, 44,888?? shares issued and outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated value-Common Total paid-in capital Retained earnings Treasury stock, 5,800 shares Total stockholders' equity 880, eee 34,800 66,eee 1,420,00 299,000 (29,808) $1,681,800 Note: The market value per share of the common stock is $36, and the market value per share of the preferred stock is $16. Required a. What is the par value per share of the preferred stock? b. What is the dividend per share on the preferred stock? c. What is the number of common stock shares outstanding? d. What was the average issue price per share (price for which the stock was issued) of the common stock? f. If Mann Equipment Company declared a 2-for-1 stock split on the common stock, how many shares will be outstanding after the split? What amount will be transferred from the retained earnings account because of the stock split? Theoretically, what will be the market price of the common stock immediately after the stock split? Complete this question by entering your answers in the tabs below. Reg A to D ReqF If Mann Equipment Company declared a 2-for-1 stock split on the common stock, how many shares will be outstanding after the split? What amount will be transferred from the retained earnings account because of the stock split? Theoretically, what will be the market price of the common stock immediately after the stock split? Shares outstanding after the split Amount transferred form retained earnings Market price of common stock after split
