The balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts at December 31, 2020: Paid-in capital: Preferred stock, 8.0%, 93,000 shares at $1 par $ Common stock, 434,300 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings 93,000 434,300 1,545,000 2,595,000 9,245,000 (51,600) $13,860,700 Treasury stock, at cost; 4,300 common shares Total shareholders' equity During 2021, several events and transactions affected the retained earnings of Consolidated Paper. Required: 1. Prepare the appropriate entries for these events. a. On March 3, the board of directors declared a property dividend of 265,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value: $772,000). The investment shares had a fair value of $3 per share and were distributed March 31 to shareholders of record March 15. b. On May 3, a 5-for-4 stock split was declared and distributed. The stock split was effected in the form of a 25% stock dividend. The market value of the $1 par common stock was $12 per share. c. On July 5, a 2% common stock dividend was declared and distributed. The market value of the common stock was $12 per share. d. On December 1, the board of directors declared the 8.0% cash dividend on the 93,000 preferred shares, payable on December 28 to shareholders of record December 20. e. On December 1, the board of directors declared a cash dividend of $0.50 per share on its common shares, payable on December 28 to shareholders of record December 20. of tho halance sheet for Consolidated Paper, Inc., at December 31, 2021. Net income for

Cullumber Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders’ equity. Preferred Stock, 160,200 shares   $ 3,204,000 Common Stock, 1,983,000 shares   9,915,000 Paid-in Capital in Excess of Par—Preferred Stock   200,000 Paid-in Capital in Excess of Par—Common Stock   26,495,000 Retained Earnings   4,431,000 The following transactions affected stockholders’ equity during 2021. Jan. 1   29,300 shares of preferred stock issued at $24 per share. Feb. 1   48,800 shares of common stock issued at $21 per share. June 1   2-for-1 stock split (par value reduced to $2.50). July 1   28,100 shares of common treasury stock purchased at $11 per share. Cullumber uses the cost method. Sept. 15   10,200 shares of treasury stock reissued at $12 per share. Dec. 31   The preferred dividend is declared, and a common dividend of 55¢ per share is declared. Dec.…

The stockholders' equity section of Skysong Corporation appears below as of December 31, 2025. 8% cumulative preferred stock, $10 par value, authorized 100,000 shares, outstanding 90,000 shares Common stock, $0.20 par, authorized and issued 9,899,000 shares Additional paid-in capital Retained earnings Net income $900,000 1,979,800 4,090,000 $27,020,000 6,530,000 33,550,000 $40,519,800 Net income for 2025 reflects a total effective tax rate of 20%. Preferred stock dividends of $72,000 were declared and paid in 2025. Dividends of $1,000,000 were declared and paid to common stockholders in 2025. Compute earnings per share data as it should appear on the income statement of Skysong Corporation. (Round answer to 2 decimal places, e.g. 1.48.) Earnings per share $

The books of Oriole corporation carried the following account balances as of December 31, 2020. Cash $210,000. preferred stck(cumulative, nonparticipating,$50 par) $310,000. common stock (non-par value, 284,000 shares issued) $1,420,000. Paid-in capital in excess of par -preferred stock $157,000. Treasury stock (common 2,900 shares at cost). Retained earnings $ 106,100. The company decided not to pay any dividend in 2020. The board of directors, at their annual meeting on December 21,2021, declared the following: The current year dividend shall be 6% on the preferred and $0.30% per share on the common. The dividend in arrears shall be paid by issuing 1,550 shares of treasury stock. At the date of deceleration, the preferred is selling at $80 per shares , and the common at $12 per shares . Net income for 2021 is estimated at $81,400. (a) prepare the journal entries required for the dividend declaration and payment assuming that they occur simultaneously. ( credit amount title are…