The balance sheet of Morgan and Rockwell was as follows immediately prior to the partnership's liquidation: cash, $23,500; other assets, $147,000; liabilities, $46,300; Morgan, capital, $57,600; Rockwell, capital, $66,600. The other assets were sold for $125,100. Morgan and Rockwell share profits and losses in a 2:1 ratio. As a final cash distribution from the liquidation, Morgan will receive cash totaling

a.$43,000

b.$23,500

c.$57,600

d.$15,667

Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:

Year 1	$10,000
Year 2	45,000
Year 3	90,000

Determine the dividends per share for preferred and common stock for the third year.

a.$4.50 and $0.25

b.$4.50 and $0.90

c.$2.00 and $0.25

d.$3.25 and $0.25

The charter of a corporation provides for the issuance of 117,000 shares of common stock. Assume that 38,000 shares were originally issued and 3,100 were subsequently reacquired. What is the amount of cash dividends to be paid if a $4-per-share dividend is declared?

a.$139,600

b.$12,400

c.$152,000

d.$468,000

Singer and McMann are partners in a business. Singer's original capital was $35,800 and McMann's was $55,800. They agree to salaries of $13,800 and $17,600 for Singer and McMann, respectively, and 10% interest on original capital. If they agree to share the remaining profits and losses in a 3:2 ratio, what will Singer's share of the income be if the income for the year is $55,800?

a.$26,524

b.$17,380

c.$33,480

d.$13,800

A company with 83,000 authorized shares of $7 par common stock issued 38,000 shares at $16. Subsequently, the company declared a 2% stock dividend on a date when the market price was $35 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?

a.$58,100

b.$21,280

c.$5,320

d.$26,600