Due on Sunday, February 7th at 8:00 pm.
On January 1, 2021, Artline Corporation had the following information available
regarding its stockholders' equity:
5%, $? par, cumulative Preferred Stock, 700,000 shares authorized, 350,000 shares issued
Paid-in Capital in Excess of Par - Preferred Stock
Common Stock, $6 par, 900,000 shares authorized, ? shares issued, ? shares outstanding
Paid-in Capital in Excess of Par - Common Stock
Paid-in Capital from Treasury Stock Transactions
Treasury Stock (50,000 shares @ cost)
The following transactions affecting stockholders' equity took place during 2021:
Issued 35,000 shares of preferred stock for $83/share.
Issued 60,000 shares of common stock for $34/share.
Declared a cash dividend to shareholders of record on May 15, 2021 payable on
May 31, 2021.
The preferred shareholders are to receive their contractual preference
(no dividends are in arrears) and the common shareholders are to receive $2/share.