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Question: The following account balances relate to the stockholders' equity accounts of Molder Corp. at year-end.

A small stock dividend was declared and issued in 2017. The market price of the shares was $8,800. Cash dividends were $20,000 in both 2017 and 2016. The common stock has no par or stated value.

Instructions: (a) What was the amount of net income reported by Molder Corp. in 2017?

(b) Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2017.

(c) Indicate where each of the cash inflows or outflows identified in (b) would be classified on the statement of cash flows.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92665437

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