Chapter 12 Practice Problem \#2 Spring 2023 Happiness, Inc. sells production equipment. The following selected accounts appear in the General Ledger on January 1, 2022: Instructions: Show all calculations with words \& numbers 1) How many shares of Preferred Stock have been issued and are outstanding? 2) Calculate the total cash received for the Preferred Stock. 3) Calculate the cash received per share for the Preferred Stock. 4) Calculate the Preferred Stock Dividend Requirement. 5) How many shares of Common Stock have been issued and are outstanding? [ 6) Calculate the total cash received for Common Stock. 7) Calculate the cash received per share for the Common Stock (round to two decimal points). 8) The company issued 60,000 shares of Common Stock. Calculate the total number of Common Stock shares outstanding. 9) The company purchased 210,000 shares of Treasury Stock. Calculate the total number of Common Stock shares outstanding. 10) The company declared a $0.20 per share cash dividend for Common Stock, and declared the cash dividend requirement for Preferred Stock. Calculate the total cash dividend. 11) Prepare the journal entry for the date of delcaration for the total cash dividend