12% cumulative preferred stock, $100 par, callable at $108$300,000

Common Stock, $10 par, 5,000,000 shares authorized,

60,000 shares issued and outstanding600,000

Additional paid-in capital: common stock400,000

Deficit (negative retained earnings)50,000

16.Refer to the above data.How many shares of preferred stock are issued and outstanding?

a.2,778 shares

b.2,950 shares

c.3,000 shares

d.3,200 shares

17.Refer to the above data.What was the original issue price per share of common stock?

a.$10.00 per share

b.$16 2/3 per share

c.$18 1/8 per share

d.$19.00 per share

18.Refer to the above data.Compute total paid-in capital.

a.$1,000,000

b.$1,250,000

c.$1,300,000

d.$1,350,000

19.Refer to the above data.Total stockholders' equity is:

a.$1,226,000

b.$1,250,000

c.$1,300,000

d.$1,274,000

20.Refer to the above data.Book value per share of common stock (rounded to the nearest penny) is:( Assume one year of dividends in arrears)

$14.83 per share

a.$15.10 per share

b.$16.00 per share

c.$16.05 per share