TB MC Qu. 11-135 Hutter Corporation declared... Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 22,000 shares authorized, 10,200 shares issued, and 8,800 shares of common stock outstanding. The journal entry to record the dividend declaration is: TB MC Qu. 04.98 A company had net sales... A company had net sales of $755,700 and cost of goods sold of $544,920. Its net income was $18,400. The company's gross margin ratio equals