Question
Analysis of Stockholders' Equity The Stockholders' Equity section of the December 31, 2017, balance sheet of Eldon Company appeared as follows: Preferred stock, $40 par
Analysis of Stockholders' Equity
The Stockholders' Equity section of the December 31, 2017, balance sheet of Eldon Company appeared as follows:
Preferred stock, $40 par value, 5,000 shares authorized, ? shares issued | $220,000 |
Common stock, ? par, 10,000 shares authorized, 8,000 shares issued | 80,000 |
Additional paid-in capitalPreferred | 9,900 |
Additional paid-in capitalCommon | 560,000 |
Additional paid-in capitalTreasury stock | 1,000 |
Total contributed capital | $870,900 |
Retained earnings | 33,000 |
Treasury stock, preferred, 100 shares | (3,200) |
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.
5. The average per-share sales price of the common stock when issued
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 $fill in the blank 8 per share
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