The stockholders' equity section of Bullock Corporation's comparative balance sheet at the end of 2018 and 2019 is presented below. It is part of the financial data just reviewed at a stockholders' meeting. December, 31, 2019 December 31, 2018 Common stock, $10 par value, 600,000 Shares authorized, issued at Dec 31 2019. 275,000 shares; 250,000 Shares Paid-in capital in excess of par Retained earnings (see Note) Total stockholders' equity $2,750,000 4,575,000 2,960,000 $10,285,000 $2,500,000 4,125,000 2,825,000 $9,450,000 The following items were also disclosed at the stockholders' meeting: net income for 2019 was $1,220,000; a 10% stock dividend was issued December 14, 2019; when the stock dividend was declared, the market value was $28 per share; the market value per share at December 31, 2019, was $26; management plans to borrow $500,000 to help finance a new plant addition, which is expected to cost a total of $2,300,000; and the customary $1.54 per share cash dividend had been revised to $1.40 when declared and issued the last week of December 2019. As part of its investor relations program, during the stockholders' meeting management asked stockholders to write any questions they might have concerning the firm's operations or finances. As assistant controller, you are given the stockholders' questions to answer. Prepare brief, but reasonably complete answers to FOUR of the following questions. Keep the questions you answer; delete the questions you don't, keeping the identifying letter (i.e., a, b, c, etc.) to help the grader identify the answered questions.