Please answer all questions with explanations. Thank you! QUESTION 26 Shown below is information relating to the stockholders' cquity of Grant Corporation at December 31, 2018: $600.000 6% cumulative preferred stock, $100 par, 10.000 shares authorized 6,000 shares issued Common stock, $3 par, 500,000 shares authorized, 300,000 shares issued and outstanding Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained earnings $900,000 $60,000 $1,900,000 $1,090,000 Dividends have been declared and paid for 2018. Grant's total legal capital at December 31, 2018, is: $3,160,000. $2,590,000 $1,500,000 $3,000,000. QUESTION 35 When comparing the units-of-output method of depreciation with straight-line depreciation: The depreciation expense in the first year will always be the same under both the methods. The depreciation expense in the first year will always be less under the units-of-output method The depreciation expense in the first year may be greater than, equal to, or less under the units-of- output method The depreciation expense in the first year will always be greater under units-of-output method. QUESTION 40 Which of the following best describes retained earnings? Cash available for expansion and growth. Income that has been reinvested in the business rather than distributed as dividends to stockholders Cash available for dividends. The amount initially invested in the business by stockholders