# How many common shares are outstanding on each cash dividend date?

How many common shares are outstanding on each cash dividend date?
Stockholders’ Equity (December 31, 2002)
Common Stock – \$4 par value, 50,000 shares authorized, 20,000 shares issued and outstanding
\$80,000
Contributed capital in excess of par value, common stock
\$60,000
Total contributed capital
\$140,000
Retained Earnings
\$160,000
Total Stockholders’ Equity
\$300,000
Stockholders’ Equity (December 31, 2003)
Common Stock – \$4 par value, 50,000 shares authorized,23,700 shares issued,1,500 shares in treasury
\$94,800
Contributed capital in excess of par value, common stock
\$89,600
Total contributed capital
\$184,400
Retained Earnings (\$57,200 restricted by Treasury Stock)
\$200,000 = 384,400
Less Treasury Stock at Cost
(15,000)
Total Stockholders’ Equity
\$369,400
The following transactions and events affect its equity accounts during year 2003:
Feb. 15 Declared a \$0.50 per share cash dividend, date of record February 20.
Mar. 2 Purchased treasury stock for cash.
May 15 Declared a \$0.50 per share cash dividend, date of record May 20.
Aug. 15 Declared a \$0.50 per share cash dividend, date of record August 20.
Oct.4 Declared a 20% stock dividend when the stock’s market value is \$12 per share.
Oct. 20 Issued a stock dividend that was declared on October 4.
Nov. 15 Declared a \$0.50 per share cash dividend, date of record November 20.
Required:
1. How many common shares are outstanding on each cash dividend date?
*To find this, do I need to subtract the issued stock by the treasury stock
2. What is the total dollar amount for each of the four cash dividends?
*Honestly, I don’t understand.
3. What is the amount of the capitalization of retained earnings for the stock dividend?
*The teacher got an answer of \$44,400. I have know idea how and could you explain what it means by capitalization.
4. What is the per share cost of the treasury stock purchased?
*I have know idea how she got answer of \$10 per share either.
5. How much net income did the company earn during year 2003?
*Did she get an answer of \$124,000 by simply subtracting beginning retained earnings by the end retained earnings and adding the dividends.
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