▪ Issued 4,800 shares of $2 par value common stock for $26. It authorized 20,000 shares. • Issued 1,200 shares of 12%, $10 par value preferred stock for $31. It authorized 3,000 shares. Reacquired 240 shares of common stock for $38 each. . • Retained earnings is impacted by reported net income of $58,000 and cash dividends of $19,000.
▪ Issued 4,800 shares of $2 par value common stock for $26. It authorized 20,000 shares. • Issued 1,200 shares of 12%, $10 par value preferred stock for $31. It authorized 3,000 shares. Reacquired 240 shares of common stock for $38 each. . • Retained earnings is impacted by reported net income of $58,000 and cash dividends of $19,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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