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Accounting II. Need help.Screen Shot 2019-09-22 at 10.36.31 PM.png

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Pranks, Inc.
Number of common shares authorized 900,000
Number of common shares issued 500,000
Par value of common shares $20
Par value of cumulative preferred shares $30
Paid-in GEM 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 Total Cash Preferred Dividends Common Dividends
Year Dividends Total Per Share Total Per Share 2011 40,000 40,000 0.20 0 0.00
2012 72,000 72,000 0.36 0 0.00
2013 113,000 68,000 0.34 45,000 0.09
2014 135,000 60,000 0.30 75,000 0.15
2015 150,000 60,000 0.30 90,000 0.18
2016 210,000 60,000 0.30 150,000 0.30 Stock Dividend The company declared a 2% common stock dividend on December 1, and would like you to
calculate the following pieces of missing information. The market value of the common shares is
$24.00 on December 1 , and is $30.00 on the actual distribution date of the stock, December 31. Fill in the missing information below, using the information given and your work on the other
panels. All “before" Items are before the stock dividend was declared. All “after" items are after the stock dividend was declared and closing entries were recorded at the end of the year. Total paid-in capital before the stock dividend $ Total retained earnings before the stock dividend Total stockholders’ eqfity before the stock dividend $ Total paid-in capital after the stock dividend $ Total retained earnings after the stock dividend Total stockholders’ equity after the stock dividend $

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How many shares of common stock are outstanding?
500,000
How many shares of preferred stock are outstanding?
What is the preferred dividend as a percent of par?
%

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