Could some one please help me finish this problem The following account balances relate to the stockholders equity accounts of Kerbs Corp at year end 2017 2016 Common stock, 10,500 and 10,000 shares, respectively, for 2017 and 2016 $161,100 $142,000 Preferred stock, 5,000 shares 136,800 136,800 Retained earnings 300,100 253,000 A small stock dividend was declared and issued in 2017 The market value of the shares was $10,600 Cash dividends were $16,500in both 2017 and 2016 The common stock has no par or stated value Warning Don't show me this message again for the assignment Ok Cancel Your answer is incorrect Try again What was the amount of net income reported by Kerbs Corp in 2017 Net income $ Warning Don't show me this message again for the assignment Ok Cancel Your answer is partially correct Try again Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2017 Common stock $ Inflow Dividends $ 16500 Outflow Warning Don't show me this message again for the assignment Ok Cancel Your answer is correct Indicate where each of the cash inflows or outflows identified in (b) would be classified on the statement of cash flows Common stock Financing Dividends Financing

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Question: Could some one please help me finish this problem? The following account balances relate to the stockholders equity accounts of Kerbs Corp. at year-end. 2017

Could some one please help me finish this problem?

The following account balances relate to the stockholders equity accounts of Kerbs Corp. at year-end.

2017	2016
Common stock, 10,500 and 10,000 shares,
respectively, for 2017 and 2016	$161,100	$142,000
Preferred stock, 5,000 shares	136,800	136,800
Retained earnings	300,100	253,000

A small stock dividend was declared and issued in 2017. The market value of the shares was $10,600. Cash dividends were $16,500in both 2017 and 2016. The common stock has no par or stated value.

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What was the amount of net income reported by Kerbs Corp. in 2017?

Net income

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Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2017.

Common stock	$	Inflow
Dividends	$ 16500	Outflow

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Indicate where each of the cash inflows or outflows identified in (b) would be classified on the statement of cash flows.

Common stock	Financing
Dividends	Financing

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