Required information

[The following information applies to the questions displayed below.]

The equity sections from Atticus Groups 2013 and 2014 year-end balance sheets follow.

Stockholders Equity (December 31, 2013)
Common stock$4 par value, 50,000 shares authorized, 35,000 shares issued and outstanding	$	140,000
Paid-in capital in excess of par value, common stock		100,000
Retained earnings		360,000
Total stockholders equity	$	600,000

Stockholders Equity (December 31, 2014)
Common stock$4 par value, 50,000 shares authorized, 41,000 shares issued, 5,000 shares in treasury	$	164,000
Paid-in capital in excess of par value, common stock		148,000
Retained earnings ($50,000 restricted by treasury stock)		400,000
		712,000
Less cost of treasury stock		(50,000	)
Total stockholders equity	$	662,000

The following transactions and events affected its equity during year 2014.

Jan.	5	Declared a $0.60 per share cash dividend, date of record January 10.
Mar.	20	Purchased treasury stock for cash.
Apr.	5	Declared a $0.60 per share cash dividend, date of record April 10.
July	5	Declared a $0.60 per share cash dividend, date of record July 10.
July	31	Declared a 20% stock dividend when the stocks market value is $12 per share.
Aug.	14	Issued the stock dividend that was declared on July 31.
Oct.	5	Declared a $0.60 per share cash dividend, date of record October 10.

3.	What is the amount of the capitalization of retained earnings for the stock dividend?

The equity sections from Atticus Groups 2013 and 2014 year-end balance sheets follow.

Stockholders Equity (December 31, 2013)
Common stock$4 par value, 50,000 shares authorized, 35,000 shares issued and outstanding	$	140,000
Paid-in capital in excess of par value, common stock		100,000
Retained earnings		360,000
Total stockholders equity	$	600,000

Stockholders Equity (December 31, 2014)
Common stock$4 par value, 50,000 shares authorized, 41,000 shares issued, 5,000 shares in treasury	$	164,000
Paid-in capital in excess of par value, common stock		148,000
Retained earnings ($50,000 restricted by treasury stock)		400,000
		712,000
Less cost of treasury stock		(50,000	)
Total stockholders equity	$	662,000

The following transactions and events affected its equity during year 2014.

Jan.	5	Declared a $0.60 per share cash dividend, date of record January 10.
Mar.	20	Purchased treasury stock for cash.
Apr.	5	Declared a $0.60 per share cash dividend, date of record April 10.
July	5	Declared a $0.60 per share cash dividend, date of record July 10.
July	31	Declared a 20% stock dividend when the stocks market value is $12 per share.
Aug.	14	Issued the stock dividend that was declared on July 31.
Oct.	5	Declared a $0.60 per share cash dividend, date of record October 10.

5.	How much net income did the company earn during year 2014?

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Item18

Item 18 Part 5 of 6 0.4 points

Required information

[The following information applies to the questions displayed below.]

Raphael Corporations common stock is currently selling on a stock exchange at $155 per share, and its current balance sheet shows the following stockholders equity section:

Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding	$	75,000
Common stock$___ par value, 4,000 shares authorized, issued, and outstanding		200,000
Retained earnings		330,000
Total stockholders' equity	$	605,000

5.	If two years preferred dividends are in arrears and the preferred stock is callable at $85 per share, what are the book values per share of the preferred stock and the common stock

Required information

[The following information applies to the questions displayed below.]

Raphael Corporations common stock is currently selling on a stock exchange at $155 per share, and its current balance sheet shows the following stockholders equity section:

Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding	$	75,000
Common stock$___ par value, 4,000 shares authorized, issued, and outstanding		200,000
Retained earnings		330,000
Total stockholders' equity	$	605,000

6.1	If two years preferred dividends are in arrears and the board of directors declares cash dividends of $14,000, what total amount will be paid to the preferred and to the common shareholders?

6.2	What is the amount of dividends per share for the common stock? (Round your answer to two decimal places.)