Identifying source of equity, stock issuance, and dividendsTillman Comfort Specialists, Inc. reported the following stockholders’ equity on balance sheet at June 30, 2018:RequirementsIdentify the different classes of stock that Tillman Comfort Specialists has outstanding. What is the par value per share of Tillman Comfort Specialists’ preferred stock?Make two summary journal entries to record issuance of all the Tillman Comfort Specialists stock for cash. Explanations are not required. No preferred dividends are in arrears. Journalize the declaration of a $200,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. Use separate Dividends Payable accounts for preferred and common stock. An explanation is not required.

Joint cost cheyenne, inc. produces three products from a common input. the joint costs for a typical quarter follow: direct materials $45,000 direct labor 55,000 overhead 60,000 the revenues from each product are as follows: product a $75,000 product b 80,000 product c 30,000 management is considering processing product a beyond the split-off point, which would increase the sales value of product a to $116,000. however, to process product a further means that the company must rent some special equipment costing $17,500 per quarter. additional materials and labor also needed would cost $12,650 per quarter. a. what is the gross profit currently being earned by the three products for one quarter? $answer b. what is the effect on quarterly profits if the company decides to process product a further? $answer