Question: On January 1 , 2 0 2 2 , Metco Incorporated reported 2 8 2 , 0 0 0 shares of $ 2 par value
On January Metco Incorporated reported shares of $ par value common stock as being issued and outstanding. On March MetcoIncorporated purchased for its treasury shares of its common stock at a price of $ per share. On August of these treasury shares were sold for $ per share. Metco's directors declared cash dividends of $ per share during the second quarter and again during the fourth quarter, payable on June and December respectively. A stock dividend was issued at the end of the year. There were no other transactions affecting common stock during the year.
b Calculate the total amount of the cash dividends paid in the second quarter.
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