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A201:1203 fx g) During 2021, Hollister Electric Inc. has performed well, so the board of directors decided to pay dividends. On November 30, 2021 155 Assets Liabilities 56 Cash $30,000 Accounts Payable $14,700 157 Accounts Receivable 15,800 Unearned Revenue 6,600 158 Prepaid Insurance 4,200 Bank Loan 31,000 Inventory 78 500 Total Liabilities 52,300 Property, Plant & Equipment 220,000 Shareholders' Equity Accumulated Depreciation -30,000 Common Shares - 100,000 issued 100,000 Retained Earnings 166,200 Total Shareholders Equity 266,200 Total Assets $318,500 Liabilities & Owner's Equity $318,500 4 At 2020, Razul has authorized 180,000 common shares and 15,000 preferred shares. The preferred shares will be cumulative and pay $6 dividends. The 100,000 shares issued were issued to Razul, He will maintain control of the company and A201 g) During 2021, Hollister Electric Inc. has performed well, so the board of directors decided to pay dividends. On November 30, 2021, the company declared cash dividends of $60,000, which will be paid out on December 15, 2021. Use the cash dividends method and close cash dividends at the end of the year