Oregon, Inc. reported net income of $105,000. During the current year, the company had 5,000 shares of $100 par, 5% preferred stock and 10,000 shares of $5 par common stock outstanding. Oregon's earnings per share is

a.$5.00

b.$5.08

c.$18.00

d.$8.00

The charter of a corporation provides for the issuance of 110,000 shares of common stock. Assume that 49,000 shares were originally issued and 6,700 were subsequently reacquired. What is the number of shares outstanding?

a.55,700

b.6,700

c.42,300

d.49,000

Kansas Company acquired a building valued at $151,000 for property tax purposes in exchange for 12,000 shares of its $7 par common stock. The stock is widely traded and selling for $17 per share. At what amount should the building be recorded by Kansas Company?

a.$204,000

b.$151,000

c.$119,500

d.$84,000

Sneed Corporation issues 12,100 shares of $47 par preferred stock for cash at $67 per share. The entry to record the transaction will consist of a debit to Cash for $810,700 and a credit or credits to

a.Preferred Stock for $568,700 and Retained Earnings for $242,000.

b.Preferred Stock for $568,700 and Paid-In Capital in Excess of ParPreferred Stock for $242,000.

c.Paid-In Capital from Preferred Stock for $810,700.

d.Preferred Stock for $810,700.

The charter of a corporation provides for the issuance of 95,013 shares of common stock. Assume that 39,557 shares were originally issued and 4,977 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared?

a.$39,557

b.$4,977

c.$69,160

d.$95,013

A company with 116,000 authorized shares of $4 par common stock issued 45,000 shares at $14. Subsequently, the company declared a 2% stock dividend on a date when the market price was $32 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?

a.$74,240

b.$28,800

c.$25,200

d.$3,600

Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:

Year 1	$10,000
Year 2	45,000
Year 3	90,000

Determine the dividends per share for preferred and common stock for the second year.

a.$0 and $0.45

b.$2.25 and $0.45

c.$2.00 and $0.45

d.$2.25 and $0