10% cumulative preferred stock, $150 par $900,000

Common stock, $6.50 par, 500,000 shares authorized $2,600,000

Paid-in capital in Excess of Par: common stock $132,000

Retained earnings $1,551,000

Dividends in arrears on preferred stock, 1 full year

What is Silver's total legal capital at December 31, 20XX?

What is the total amount of Silver's Contributed capital at December 31, 20XX?

What is the number of shares of common stock issued & outstanding?

Show the journal entry required when common stock was issued (assume all issued in one sale)

What was the average issue price per share of Silver's common stock?

If the company declared dividends of $300,000 for the current year, how much would go to preferred stockholders?