Jay-cee corporation had 20,000 shares of $4 par value common stock outstanding on january 1. on january 20, the company purchased 2,000 of its stock for $16 per share. on july 3, the company reissued 1,000 of the shares at $20 per share. jay-cee uses the cost method to account for its treasury stock. assume the company paid a dividend of $5 per share on august 3. what is the total amount of the dividends that would be paid to the common stockholders?

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)