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Project 3: Stockholders' Equity (10 points) Required: Answer the questions on the following page in this booklet and turn in the entire booklet at the

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Project 3: Stockholders' Equity (10 points) Required: Answer the questions on the following page in this booklet and turn in the entire booklet at the beginning of class on the date specified by your instructor. Shown below is the stockholders' equity section of Tiny Tot's stockholders' equity section of the balance sheet at December 31, 2020: Common stock, $1 par value, 5,000,000 shares authorized, 670,000 shares issued and outstanding $670,000 Additional paid-in capital 1,420,000 Retained earnings 2,900,000 Total stockholders' equity $ 4,990,000 During 2021, the following events occurred: Tiny Tot's was authorized to sell 100,000 shares of $100 par, 8% preferred stock Tiny Tot's sold 15,000 shares of the preferred stock at its par value A cash dividend of $300,000 was declared and paid Tiny Tot's declared and issued a 10% stock dividend on the common stock when the market value of the stock was $14 per share Net income for the year was $1,490,000 Project 3: Stockholders' Equity (10 points) Required: Answer the questions on the following page in this booklet and turn in the entire booklet at the beginning of class on the date specified by your instructor. Shown below is the stockholders' equity section of Tiny Tot's stockholders' equity section of the balance sheet at December 31, 2020: Common stock, $1 par value, 5,000,000 shares authorized, 670,000 shares issued and outstanding $670,000 Additional paid-in capital 1,420,000 Retained earnings 2,900,000 Total stockholders' equity $ 4,990,000 During 2021, the following events occurred: Tiny Tot's was authorized to sell 100,000 shares of $100 par, 8% preferred stock Tiny Tot's sold 15,000 shares of the preferred stock at its par value A cash dividend of $300,000 was declared and paid Tiny Tot's declared and issued a 10% stock dividend on the common stock when the market value of the stock was $14 per share Net income for the year was $1,490,000

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