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Homestead Oil Corporation was incorporated on January and issued the following stock for cash:
shares of nopar common stock were authorized; shares were issued on January at $ per share.
shares of $ par value, cumulative, preferred stock were authorized; shares were issued on January at $ per share.
Net income for the years ended December and was $ and $ respectively.
No dividends were declared or paid during However, on December the board of directors of Homestead declared dividends of $ payable on February to holders of record as of January
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