Alpha Corporation has the following Shareholders½ Equity section of the Balance Sheet at 1/1/2004:
Preferred Stock, 10%, $100 Par Value, 10,000 shares authorized, 1,000 issued, and outstanding
$ 100,000 Additional Paid In Capital ½ Preferred Stock
240,000 Common Stock, $10 Par Value, 100,000 shares authorized, 50,000 shares issued and outstanding
500,000 Additional Paid In Capital ½ Common Stock
800,000 Total Paid In Capital
$1,640,000 Retained Earnings
2,000,000Total Shareholders½ Equity
$3,640,000can you please let me know how you got the answer for ths question. thanks
Questions 29 (Stockholders' Equity):Assume Alpha's Board of Directors declares a cash dividend to all Shareholders. The Preferred Shareholders will receive their assured amount and the Common Shareholders will receive $ .10 per share. What will be the total dollar amount of the dividend?
a. $110,000
b. $105,000
c. $15,000
d. $55,000
e. insufficient information to solve
Questions 30 (Stockholders' Equity):Assume that Alpha has Net Income for the year of $360,000. What is the dollar amount of Earnings Per Share for Alpha for the year?
a. $ 6.86
b. $ 7.05
c. $ 7.00
d. $ 7.20
e. insufficient information to solve