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  3. the following information was extracted from the r

The following information was extracted from the records of TAC Corporation at the end of...

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Accounting

The following information was extracted from the records of TAC Corporation at the end of the fiscal year after all adjusting entries were completed:
Common stock ($19 par value; 110,000 shares authorized, 43,000 shares issued, 38,000 shares outstanding) $ 817,000
Additional paid-in capital 173,000
Dividends declared and paid during the year 12,000
Retained earnings at the beginning of the year 77,000
Treasury stock at cost (5,000 shares)(26,000)
Net income $ 45,000
Current stock price $ 24.69
2. Compute the dividend yield ratio. Determine the number of shares of stock that received dividends.

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