Response to the following problem:
Guess Company reports $648,500 of net income for 2011 and declares $102,500 of cash dividends on its preferred stock for 2011. At the end of 2011, the company had 260,000 weighted-average shares of common stock.
1. What amount of net income is available to common stockholders for 2011?
2. What is the company's basic EPS for 2011?
4. What is the preemptive right of common stockholders?
5. List the general rights of common stockholders.
6. What is the difference between authorized shares and outstanding shares?