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Pranks, Inc. Pranks, Inc. is a manufacturer of joke and novelty products for perpetrators of practical jokes. The corporation has paid several cash dividends throughout

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Pranks, Inc. Pranks, Inc. is a manufacturer of joke and novelty products for perpetrators of practical jokes. The corporation has paid several cash dividends throughout Year 5 , the current year. It is also dectaring a stock dividend to its stockholders as the calendar year-end approuches. You've been brought in as a consultant 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 campany has two classes of stock: common stock and cumulative preforred stocki. 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 par-common stock Paid-in capital in excess of par-preferred stock Total retained earnings before the stock dividend is declared No treasury share have been reissued. 900,000 $20 $30 $7,000,000 50 $33,500,000 Cash Dividends The accounting manager for the company prepared the schefule of cash divisends pald from Year 1 to Year 6 on the Pranks, inc, ganel. Howevec, one of the reasons for Pranks, Inc.'s missing information is that the manager is away on vacatien and is unreachuble by phone, because he is backpacking on a temote ialand that doer nok huve cell phone reception. Management would like you to determine some imformation from the data you've celiected regarding its oveatanding stoca. Fin in the following answers. How many shares of common stock are outstanding? How many shares of preferred stock are eutstanding? x What is the preferred dividend as a percent of par? 4 The company dectared a 2% common stock dividend en December 1 , and would twe you to compute the following pieces of missing information. The market value of the common shares is 525 on December 1 , and is $30 on the actual distribution date of the stock, December 31. declared. Afr "after" ifems are after the stock dividend was declaved and closing entries were cecorded at the end of the year. Total paid-in capial before the stock dividend Total retained eamings before the stock dividend Total stockhoiders' equity before the stock dividend Total paidein capital afer the stock dividend - Total retained earnings after the Mock ovidend Tokal stochhoiders' equity atter the stock dividend

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