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Common stock, 10,500 and 10,000 shares, issued and 2022 2021 outstanding, respectively, for 2022 and 2021 $156,900 $144,500 Preferred stock, 5,000 shares, issued and outstanding Retained earnings 128,800 128,800 302,200 250,900 A small stock dividend was declared and issued in 2022. The market price of the shares issued was $11,100. Cash dividends of $15,900 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value.

Common stock, 10,500 and 10,000 shares, issued and 2022 2021 outstanding, respectively, for 2022 and 2021 $156,900 $144,500 Preferred stock, 5,000 shares, issued and outstanding Retained earnings 128,800 128,800 302,200 250,900 A small stock dividend was declared and issued in 2022. The market price of the shares issued was $11,100. Cash dividends of $15,900 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Common stock, 10,500 and 10,000 shares, issued and 2022 2021 outstanding, respectively, for 2022 and 2021 Preferred stock, 5,000 shares, issued and outstanding Retained earnings $156,900 $144,500 128,800 128,800 302,200 250,900 A small stock dividend was declared and issued in 2022. The market price of the shares issued was $11,100. Cash dividends of $15,900 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value. (a) What was the amount of net income reported by Coronado Corp. in 2022? Net income $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b) Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2022. Common stock $ Dividends $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (c) Indicate where each of the cash inflows or outflows identified in (b) would be classified on the statement of cash flows. Common stock Dividends eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
Transcribed Image Text:Common stock, 10,500 and 10,000 shares, issued and 2022 2021 outstanding, respectively, for 2022 and 2021 Preferred stock, 5,000 shares, issued and outstanding Retained earnings $156,900 $144,500 128,800 128,800 302,200 250,900 A small stock dividend was declared and issued in 2022. The market price of the shares issued was $11,100. Cash dividends of $15,900 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value. (a) What was the amount of net income reported by Coronado Corp. in 2022? Net income $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b) Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2022. Common stock $ Dividends $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (c) Indicate where each of the cash inflows or outflows identified in (b) would be classified on the statement of cash flows. Common stock Dividends eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
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