For the 3C, preffered stock Retained earning cash dividends preffered dividends was wrong. Required information [The following

For the 3C,

preffered stock

Retained earning

cash dividends

preffered dividends

was wrong.

Transcribed Image Text:

Required information [The following information applies to the questions displayed below.] Nicole has been financing Nicole's Getaway Spa (NGS) using equity financing. Currently NGS has authorized 100,000 no- par preferred shares and 200,000 $2 par common shares. Outstanding shares include 51,000 preferred shares and 41,000 common shares. Recently the following transactions have taken place. a. NGS Issues 1,050 preferred shares for $11 a share. b. NGS repurchases 1,050 common shares for $10 a share. c. On November 12, the board of directors declares a $0.20 cash dividend on each outstanding preferred share. d. The dividend is paid December 20. Required information [The following information applies to the questions displayed below.] Nicole has been financing Nicole's Getaway Spa (NGS) using equity financing. Currently NGS has authorized 100,000 no- par preferred shares and 200,000 $2 par common shares. Outstanding shares include 51,000 preferred shares and 41,000 common shares. Recently the following transactions have taken place. a. NGS Issues 1,050 preferred shares for $11 a share. b. NGS repurchases 1,050 common shares for $10 a share. c. On November 12, the board of directors declares a $0.20 cash dividend on each outstanding preferred share. d. The dividend is paid December 20.