The stockholders’ equity accounts of novak corp. on january 1, 2017, were as follows. preferred stock (6%, $100 par noncumulative, 5,000 shares authorized) $300,000 common stock ($4 stated value, 340,000 shares authorized) 1,133,333 paid-in capital in excess of par value—preferred stock 15,000 paid-in capital in excess of stated value—common stock 544,000 retained earnings 692,000 treasury stock (5,000 common shares) 40,000 during 2017, the corporation had the following transactions and events pertaining to its stockholders' equity feb. 1 issued 4,570 shares of common stock for $27,420. mar. 20 purchased 1,650 additional shares of common treasury stock at $ 9 per share. oct. 1 declared a 6% cash dividend on preferred stock, payable november 1. nov. 1 paid the dividend declared on october 1. share cash dividend to common stockholders of record on december 15, payable december 31, 2017 dec. 31 determined that net income for the year was $ 280,500. paid the dividend declared on december 1. journalize the transactions.
not enough info given about the situation but the best guess would be the price would decrees.
when the demand for a product drops (i.e being banned) the price drops
class participation because in this group