On January 1, 2010, Metco, Inc., had issued an outstanding 574,600 shares of $2 par value common stock. On March 15, 2010, Metco, Inc., purchased for its treasury 4,400 shares of its common stock at a price of $75 per share. On August 10, 2010, 1,400 of these treasury shares were sold for $84 per share. Metco's directors declared cash dividends of $1.20 per share during the second quarter and again during the fourth quarter, payable on June 30, 2010, and December 31, 2010, respectively. A 2% stock dividend was issued at the end of the year. There were no other transactions affecting common stock during the year.
- Calculate the total amount of the cash dividends paid in the second quarter.
- Calculate the total amount of cash dividends paid in the fourth quarter.
- Calculate the number of shares of stock issued in the stock dividend.