Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue 600,000 shares...
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Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue 600,000 shares of $100 par value 8% preferred stock. It is also authorized to issue 750,000 shares of $1 par value common stock. It has issued only 50,000 of the common shares and none of the preferred shares. In its sixth year, the corporation has the following transactions: Mar. 1 Declares a cash dividend of $2 per share. Mar. 30 Pays the cash dividend. Jul. 10 Declares a 5% stock dividend when the stock is trading at $20 per share. Aug. 5 Issues the stock dividend
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