Question 45 (2 points) On January 1, BearBack Corporation had 300,000 common shares issued. On April 10, the company declared a 10% stock dividend to be distributed on April 30. The market value of the shares was $7 on April 10 and $10 on April 30. The entry to record the transaction of April 30 would include a debit to Dividends Declared for $210,000. credit to Cash for $210,000. debit to Stock Dividends Distributable for $210,000. credit to Retained Earnings for $300,000. Question 46 (2 points) The shareholders' equity section of Corey Corporation at December 31, 2017 included the following: Preferred shares, S4 cumulative, 10,000 shares authorized, 8,000 shares issued $800,000 Common shares, 500,000 shares authorized, 400,000 shares issued $2,000,000 Dividends were not declared on the preferred shares in 2017 and are in arrears. On September 15, 2018, the board of directors of Corey Corporation declared all of the required dividends on the preferred shares to be paid to the shareholders of record on October 1, 2018 and payable on October 15, 2018.The amount of total dividends declared on preferred shares on September 15, 2018 is: $64,000. $40,000. $32,000. $54,000. Question 47 (2 points) Use the following information to answer question 47 and 48 On January 1, 2018, Tarow Corporation had 80,000 common shares, recorded at $600,000, and retained earnings of $1,000,000. During the year, the following transactions occurred: Apr. 2 Issued 5,000 common shares at $20 per share. June 15 Declared a cash dividend of $0.25 per share to common shareholders of record on June 30, payable on July 10. Aug. 21 Declared a 5% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were trading for $22 a share on August 21, $24 on September 5, and $26 on September 20. Nov. Issued 3,000 common shares at $25 per share. Nov. 15 Declared and issued a 2-for-1 stock split Dec. 20 Declared a cash dividend of $0.30 per share to common shareholders of record on December 31, payable on January 10. Dec. 31 The net income for the year of 2018 is $20,000 The amount of total dividends declared on common shares on August 21, 2018 is: 1 $110,500 $35,000 $88,000 $93,500