Question #3 (6 marks) Higgins Company had 25,000 common shares outstanding at the beginning of 2019. On May 1, the company sold an additional 2,000 shares. On July 1, the company retired 1,000 shares and on November 1, the company declared a 2 for 1 stock split. The net income for 2020 was $545,000 and the preferred shareholders received $100,000 of dividends. Higgins Company has a December 31 year end. REQUIRED: Calculate the Earnings per Share for 2019. Question #2 (7 marks) Blue Jean Corporation originally issued its 5,000 common shares at $25 per share and all were still outstanding (i.e. none had been repurchased) as of July 1, 2019. REQUIRED: Prepare general journal entries to record the following: 1) July 1, 2019 - Purchased and retired 500 common shares at $23 per share. 2) Aug 1, 2019 - Purchased and retired another 500 common shares at $30 per share. Marshall Company has the following shares issued and outstanding: 2000 Preferred shares, $10, cumulative 40000 Common shares Dividends were not paid to the preferred shareholders in the previous three years. In the current year the Board of Directors declared a $92,000 cash dividend. REQUIRED: Determine the total dividends paid to each class of shares REQUIRED: Determine the total dividends paid to each class and the dividend per share to both common and preferred shareholders. 2 V2