Question 28 (3 points) Kissell Manufacturing, Inc. Kissell Manufacturing, Inc. began business on June 1, 2009. The articles of incorporation authorize issuance of 10,000 shares of $2 par common stock and 5,000 shares of $8 par 6% cumulative preferred stock. Refer to the information for Kissell Manufacturing, Inc. What is the maximum amount that can be reported on Kissell's balance sheet for common stock and preferred stock, respectively, if all of the stock is issued? Common Stock $20,000 Common Stock $20,000 Common Stock $10,000 P Preferred Stock $ 2,400 referred Stock $40,000 Preferred Stock $40,000 Preferred Stock $ 2,400 Common Stock $10,000 Question 29 (3 points) What is the primary reason for a stock split? To distribute cash to the investor. To decrease the market price of the stock. To decrease the number of shares outstanding. To increase the capital stock of the corporation. Bernie's Deli The stockholders' equity section of the December 31, 2009, balance sheet for Bernie's Deli appeared as follows. Common Stock, $30 par, 20,000 $ 600,000 shares issued and outstanding Additional Paid-in Capital -- 240,000 Common Stock Retained Earnings 700.000 Total Stockholders' Equity $1,540,000 Assume that all of the 20,000 shares of Bernie's stock that was issued as of December 31, 2009, was issued for $42 per share. On March 1, 2010, Bernie reacquired 4,000 shares of its common stock for $50 per share. Question 30 (3 points) Refer to the information presented above for Bernie's Deli, Inc. How much should be reported on Bernie's March 31, 2010, balance sheet for treasury stock? $ 32,000 $128,000 $168,000 $200,000