The Stockholder$’$s Equity accounts of a corporation on January $1,2022,$ were as follows:

Preferred Stock $(5\%,$ $$10$ par, cumulative, $5,000$ shares authorized$)$ $$28,000$

Common Stock $($$$5$ par, $500,000$ shares authorized$)600,000$

Additional Paid in Capital $–$ Preferred $164,640$

Additional Paid in Capital $–$ Common $1,776,000$

Retained Earnings $685,600$

During $2022,$ the corporation had the following transactions and events relating to its Stockholders Equity:

Jan. $2$ Purchased $2,000$ shares of its own common stock to add to the Treasury at a cost of $$43,000.$

Feb. $21$ Issued $8,000$ shares of common stock in exchange for a building. On the date of the exchange, the FMV of the building was $$169,600$ and the stock was trading at $$20\mathrm{.}25$ per share.

Mar. $21$ Sold $800$ shares of treasury stock $–$ common for $$24$ per share.

Nov. $14$ Issued $400$ shares of preferred stock for $$28,800.$

Dec. $31$ Determined that net income for the year was $$180,800.$ Dividends were declared and paid during December. These dividends included a $$0\mathrm{.}20$ per share dividend to common stockholders of record as of December $20.$ There are no dividends in arrears.

What is total amount of dividends declared and paid in $2022?$

Answer rating: 100% (QA)

event related to stockholders equity in 2022 1 Initial Stockholders Equity Accounts on January 1 202... View the full answer