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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
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 Additional paid-in capital Retained earnings Total stockholders' equity $670,000 1,420,000 2,900,000 $ 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 Answer the following, based on the information given on the preceding page: Capital stock, as of December 31, 2021: # of common shares authorized # of common shares issued and outstanding # of preferred shares issued and outstanding Amount of cash dividend to common stockholders Amount of cash dividend to preferred stockholders Total debit to Stock Dividends account Additional paid-in capital, at December 31, 2021 Retained earnings, at January 1, 2021 Retained earnings, at December 31, 2021 Total Stockholders' Equity, at December 31, 2021
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