Reference no: EM132465634

Francis Inc. has the following stockholders' equity section in its November 30, 2019, balance sheet:

Required:

Question 1: Calculate the amount of the total annual dividend requirement on preferred stock.

Question 2: Calculate the amount that should be shown on the balance sheet for preferred stock.

Question 3: Calculate the number of shares of common stock that are issued and the number of shares of common stock that are outstanding.

Question 4: On January 1, 2019, the firm's balance sheet showed common stock of $105,000 and additional paid-in capital on common stock of $234,375. The only transaction affecting these accounts during 2019 was the sale of common stock. Calculate the number of shares that were sold and the selling price per share.

Question 5: Choose the transaction that resulted in the additional paid-in capital from treasury stock.

Question 6: The retained earnings balance on January 1, 2019, was $45,150. Net income for the past 11 months was $12,000. Preferred stock dividends for all of 2019 have been declared and paid. Calculate the amount of dividends on common stock during the first 11 months of 2019.

Attachment:- dividend.rar