Pranks, Inc. Pranks, Inc. is a manufacturer of joke and novelty products for perpetrators of practical jokes. The corporation has paid several hostespot 2016, the current year. It is also declaring a stock dividend to its stockholders as the calendar year-end approaches you've been brought in as a contat to assist with this process, and also to help determine whether some missing information can be determined before the distribution of the stock dividend is made. The company has two classes of stock: common stock and cumulative preferred stock You've been able to retrieve the following information so far: 900,000 750,000 Number of common shares authorized Number of common shares issued Par value of common shares Par value of cumulative preferred shares Paid-in capital in excess of pel-common stock $20 $30 $7,000,000 SO Paid-in capital in excess of par preferred stock Total retained earnings before the stock dividend is declared $33,500,000 No treasury shares have been reissued, Reading Total Cash Dividends Year Common Dividends Total Per Share SO $0.00 20Y1 $20,000 36,000 8 Preferred Dividends Total Per Share $20.000 $0 20 36,000 0.36 34,000 0.34 30,000 0.30 20Y2 0 0.00 79.000 20Y3 2014 45,000 0.09 105,000 75,000 0.15 2015 120,000 30.000 0.30 90,000 0.18 20Y6 180,000 30,000 0.30 150,000 0.30 Cash Dividends Bhaded cells have feedback The accounting manager for the company prepared the schedule of cash dividends paid from 2071 to 206 on the Pranks, Inc. panel. However, one of the reasons for Pranks, Inc.'s missing information is that the manager is away on vacation and is unreachable by phone, because he is backpacking on a remote island that does not have cell phone reception Management would like you to determine some information from the data you've collected regarding its outstanding stock Fill in the following answers 150.000 X How many shares of common stock are outstanding? How many shares of preferred stock are outstanding? What is the preferred dividend as a percent of par? Previous Stock Dividend Shaded cells have feedback The company declared a 3% common stock dividend on December 1, and would like you to compute the following pieces of missing information. The marke value of the common shares is $24.00 on December 1, and is $30.00 on the actual distribution date of the stock, December 31 Fill in the missing information in the following table, using the information given and your work on the other panels. Al before items are before the stock dividend was declared. All "after" items are after the stock dividend was declared and closing entries were recorded at the end of the year. Total paid-in capital before the stock dividend $ Total retained earnings before the stock dividend Total stockholders' equity before the stock dividend S Total paid-in capital after the stock dividend $ Total retained earnings after the stock dividend Total stockholders' equity after the stock dividend $ Points
