When doing your calculations,round to the nearest whole dollar amount AND the nearest whole number of shares,Enter your answers in whole dollar amounts,without '$' signs and without commas.

This fact pattern spans three years.All eight requirements are based on this factpattern.However, #1 only asks the balance in the Common Stock account at the end of Year 2.

Issuance of Shares: Marshall Company issued 6,000 common shares with a $10 per share par value for $95,000 cash early in Year 1.At the same time the firm issued 500 shares of its $50 par value 8% preferred stock for $35,000 cash.The preferred shares are participating and cumulative.In Year 1, Marshall had Net Income of $70,000.

On January 1, Year 2, the firm issued a 30% common stock dividend when the shares had a fair market value of $25 per share.No cash dividends were paid in Year 2.During Year 2, the firm had Net Income of $75,000.

When doing your calculations, round to the nearest whole dollar amount.When entering your answers, round to the nearest whole dollar amount, do not use '$' signs OR commas.

#1: Common Stock balance at the end of Year 2:______________

The other requirements are shown here for your convenience in responding to all the requirements in this quiz.

#2: Retained Earnings balance at the end of Year 2:_____________

Early in Year 3, Marshall distributed a 10% common stock dividend when the fair market value of the common shares was $28 each.Net Income in Year 3 was $80,000.The firm declared and distributed a cash dividend in Dec. Year 3 in the amount of $29,000.

#3:Retained Earnings balance at Dec. 31, Year 3_____________

#4: Cash paid to common shareholders in Year 3:_____________

#5: Balance in Common Stock account at Dec. 31, Yr 3: _____________

On Jan. 1, Year 4, Marshall declared and distributed a 5% stock dividend when the fair market value of each common share was $40.Cash dividends declared and distributed late in Year 4 amounted to $38,000.Net Income for Year 4 was $85,000.

#6:Retained Earnings balance at Dec. 31, Year 4$_____________

#7: Cash paid to preferred shareholders in Year4:$_____________

#8: Balance in Common Stock account at Dec. 31, Yr. 4: $_____________