Reference no: EM132594976

At January 1, 2020, JYA Corporation had outstanding 6,000 shares of 5%, $30 par value preferred stock and 36,000 shares of $8 par
value common stock.

The stockholders' equity account balances of JYA Corporation at January 1, 2020 are given below:

January 1, 2020

Preferred stock ...................... $180,000
Paid-in capital - preferred stock .... $102,000
Common stock ......................... $288,000
Paid-in capital - common stock ....... $216,000
Retained earnings .................... $111,000
Total stockholders' equity ......... $897,000

During January, JYA Corporation entered into the following transactions:

January 6: Re-acquired 19,000 of the common shares for $14 per share

January 11: Re-issued 2,000 of the shares re-acquired on January 6 for $16 per share

January 14: Re-issued 3,000 of the shares re-acquired on January 6 for $11.25 per share

January 18: Issued 7,600 previously un-issued common shares for $15 per share

January 22: Re-issued 4,000 of the shares re-acquired on January 6 for $19 per share

January 28: Re-issued 5,000 of the shares re-acquired on January 6 for $12.80 per share

Assume on February 2, 2020, JYA Corporation declared and paid the annual preferred stock dividend and a $3.90 per share dividend on the outstanding common stock.

Question 1: Calculate the total dividend (preferred stock dividend + common stock dividend) paid to stockholders on February 2, 2020.