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Indicate whether the statement is true or false. The financial loss that each stockholder in a corporation can incur is usually limited to the amount invested by the stockholder. If 100 shares of treasury stock were purchased for $50 per share and then sold at S60 per share, $1,000 of income is reported in the income statement. If 20.000 shares are authorized, 15,000 shares are issued, and 500 shares are held as treasury stock, a cash dividend of $1 per share would amount to $15.000. Cash dividends become a liability to a corporation on the date of record. Interest expense is reported in the operating expense section of the income statement. The proceeds of a discounted note are equal to the face value of the note. The proceeds from discounting a $20,000. 60-day, note payable at 6% is $20, 200. One of the more popular defined contribution plans is the 401k plan. Identify the choice that best completes the statement or answers the question. The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 40,000 shares were originally issued and 5,000 were subsequently reacquired. What is the number of shares outstanding? 5,000 35,000 45,000 55,000