Below Is The Stockholders' Equity Section Of The Balance Sheet Of Craft Corporation (with Certain Details Omitted): Stockholders’ Equity: 6% Preferred Stock, $100 Par, 10,000 Shares Authorized And ? Shares Issued $800,000 Common Stock, $25 Par, 50,000 Shares Authorized, ? Shares Issued 625,000 Additional Paid-in Capital: Preferred Stock 150,000 Common Stock 225,000 Total Paid-in Capital $1,800,000 Retained Earnings 950,000 Total Stockholders’ Equity ……………………………… $2,750,000 The Balance In Retained Earnings At The Beginning Of The Current Year Was $675,000, And There Were No Dividends In Arrears. Net Income For The Current Year Was $350,000. Based On This Information, What Is The Amount Of The Dividends Declared On Each Share Of Common Stock During The Current Year? Select One: A. $2.27 B. $4.46 C. $1.08 D. $3.00

Below is the stockholders’ equity section of the balance sheet of Craft Corporation (with certain details omitted): Stockholders’ equity: 6% preferred stock, $100 par, 10,000 shares authorized and ? shares issued $800,000 Common Stock, $25 par, 50,000 shares authorized, ? shares issued 625,000 Additional paid-in capital: Preferred stock 150,000 Common stock 225,000 Total paid-in capital $1,800,000 Retained earnings 950,000 Total stockholders’ equity ……………………………… $2,750,000 The balance in retained earnings at the beginning of the current year was $675,000, and there were no dividends in arrears. Net income for the current year was $350,000. Based on this information, what is the amount of the dividends declared on each share of common stock during the current year? Select one: a. $2.27 b. $4.46 c. $1.08 d. $3.00

- November 14, 2022 - Edwin Tunner

Earned Capital and Dividends

Below is the stockholders’ equity section of the balance sheet of Craft Corporation (with certain details omitted):

Stockholders’ equity:
6% preferred stock, $100 par, 10,000 shares authorized and ? shares issued	$800,000
Common Stock, $25 par, 50,000 shares authorized, ? shares issued	625,000
Additional paid-in capital:
Preferred stock	150,000
Common stock	225,000
Total paid-in capital	$1,800,000
Retained earnings	950,000
Total stockholders’ equity ………………………………	$2,750,000

The balance in retained earnings at the beginning of the current year was $675,000, and there were no dividends in arrears. Net income for the current year was $350,000. Based on this information, what is the amount of the dividends declared on each share of common stock during the current year?

Select one:

a. $2.27

b. $4.46

c. $1.08

d. $3.00

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