Mastery Problem: Corporations: Organization, Stock Transactions, and Additional Questions Dividends Pranks, Inc. 1. After completing the Cash Dividends panel, answer the following question. Pranks, Inc. is a manufacturer of joke and novelty products for perpetrators of Does Pranks, Inc. have any treasury stock? How can you tell? practical jokes. The corporation has paid several cash dividends throughout Year 6, the current year. It is also declaring a stock dividend to its stockholders as the calendar year-end approaches. You've been brought in as a consultant to assist with 2. In which years has Pranks, Inc. paid cumulative preferred dividends in arrears? this process, and also to help determine whether some missing information can be a. Year 1 determined before the distribution of the stock dividend is made. The company has b. Year 2 two classes of stock: common stock and cumulative preferred stock. C. Year 3 Number of common shares authorized 900,000 d. Year 4 Number of common shares issued 750,000 Par value of common shares $20 e. Year 5 Par value of cumulative preferred shares $30 f. Year 6 Paid-in capital in excess of par-common stock $7,000,000 Paid-in capital in excess of par-preferred stock $0 Total retained earnings before the stock dividend is declared $33,500,000 No treasury share have been reissued. Stock Dividend Preferred Dividends Common Dividends Total Cash Year Dividends Total Per Share Total Per Share The company declared a 2% common stock dividend on December 1, and would l Year 1 40,000 40,000 0.20 0.00 Year 2 72,000 72,000 0.36 0.00 you to compute the following pieces of missing information. The market value of t: Year 3 122,000 68,000 0.34 54,000 0.09 Year 4 150,000 60,000 0.3 90,000 0.15 common shares is $24 on December 1, and is $32 on the actual distribution date Year 5 168,000 60,000 0.3 108,000 0.18 Year 6 240,000 60,000 0.3 180,000 0.3 the stock, December 31. Cash Dividends Fill in the missing information in the following table, using the information given a The accounting manager for the company prepared the schedule of cash dividends paid from Year 1 to Year 6 on the Pranks, Inc. panel. However, one of the reasons your work on the other panels. All "before" items are before the stock dividend wa for Pranks, Inc.'s missing information is that the manager is away on vacation and is declared. All "after" items are after the stock dividend was declared and closing unreachable by phone, because he is backpacking on a remote island that does not have cell phone reception. Management would like you to determine some entries were recorded at the end of the year. information from the data you've collected regarding its outstanding stock. Total paid-in capital before the stock dividend Fill in the following answers. I retained earnings I e stock dividend How many shares of common stock are outstanding? Total stockholders' equity before the stock dividend How many shares of preferred stock are outstanding? Total paid-in capital after the stock dividend Total retained earnings after the stock dividend What is the preferred dividend as a percent of par? Total stockholders' equity after the stock dividend

board emaining Time: 1 hour, 12 minutes, 24 seconds. uestion Completion Status: OD.Does not affect total equity, but transfer amounts between the components of equity. QUESTION 4 What is the total amount of cash and other assets the corporation receives from its stockholders in exchange for its stock? O A. It always equal the stated value. O B. It always equal the par value. O C. It is referred to as paid-in capital. D. It is always below the stated value. QUESTION 5 Use the following company information to calculate net cash provided or used by investing activities: (1) Equipment with a book value of $131.250 and an original cost of $225,000 was sold at a loss of $12.750. (2) Paid $46,500 cash for a new truck. (3) Sold land costing $24,000 for $27.000 cash, realizing a $3,000 gain. LA Dchsend troseuncctock for SA5 750ench Click Save and Submit to save and submit. Click Save All Answers to save all answers. hp

H2. Account

please answer  with explanation , computation , formulation and steps thanks for help in advance please no copy paste from other answer need complete and correct answer for all or skip / leave answer in text not image please remember answer all clearly