Please answer question 7

Question 7 3 pts Davis Corporation was organized on January 3, 20X2. The firm was authorized to issue 100,000 shares of $5 par common stock. During 20X2, Davis had the following transactions relating to shareholders' equity: Issued 10,000 shares of common stock at $7 per share. Issued 20,000 shares of common stock at $8 per share. Reported a net income of $100,000. Paid dividends of $50,000. Purchased 2,000 shares (part of the 20,000 shares issued at $8) of treasury stock at $10. Assume cost method used. What is total shareholders' equity at the end of 20X2? $280,000 $310,000 $260,000 $210,000 Question 8 3 pts Nelson, Inc., has 3,000 shares of 6%, $50 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock qutstanding at December 31, 20X3, and December 31, 20x2. The board of directors declared and paid a $7,500 dividend in 20x2. In 20X3, $36,000 of dividends are declared and paid. What are the vidends received by the preferred stockholders in 20x3? $25,500 $18,000 $ 10,500 $ 9,000 Question 9