oQuestions 11-14 (of 29 E112 Reporting Stockholders Equity and Determining Dividend Policy [LO 11-2, LO 11-3) The following information applies to the questions displayed below) Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: a. Issued 6,700 shares of common stock for cash at $27 per share b. Issued 2,700 shares of common stock for cash at $30 per share. References E11-2 Part 3 3. Prepare the stockholders'equity section as it should be reported on the year-end balance sheet. At year-end, the accounts reflected Net income of $200. INCENTIVE CORPORATION Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital Common Stock Cash Additional Paid-in Capital, Common Stock Total Contributed Capital 0 Retained Earnings Total Stockholders' Equity Check my work value: 0.37 points E11-2 Part 4 4. Incentive Corporation has $37,000 in the company's bank account. What is the maximum amount of cash dividends the company can declare and distribute? Maximum amount of cash dividuhds 3,700