Question
Analysis of Stockholders' Equity The Stockholders' Equity section of the December 31, 2017, balance sheet of Eldon Company appeared as follows: Preferred stock, $50 par
Analysis of Stockholders' Equity
The Stockholders' Equity section of the December 31, 2017, balance sheet of Eldon Company appeared as follows:
Preferred stock, $50 par value, 5,000 shares authorized, ? shares issued | $225,000 |
Common stock, ? par, 10,000 shares authorized, 7,000 shares issued | 70,000 |
Additional paid-in capitalPreferred | 5,850 |
Additional paid-in capitalCommon | 420,000 |
Additional paid-in capitalTreasury stock | 2,000 |
Total contributed capital | $722,850 |
Retained earnings | 36,000 |
Treasury stock, preferred, 100 shares | (3,300) |
Total stockholders equity | $ ? |
Determine the following items based on Eldon's balance sheet. Round all calculations except per-share amounts to the nearest whole number; round per-share amounts to the nearest cent.
1. The number of shares of preferred stock issued ________
2. The number of shares of preferred stock outstanding _________
3. The average per-share sales price of the preferred stock when issued __________
4. The par value of the common stock __________
5. The average per-share sales price of the common stock when issued __________
6. The cost of the treasury stock per share __________
7. The total stockholders' equity ______
8. The per-share book value of the common stock assuming that there are no dividends in arrears and that the preferred stock can be redeemed at its par value _____
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started