Exercise 139

The following information pertains to Parsons Co.:

Preferred stock, cumulative:

Par value per share $100

Dividend rate 8%

Shares outstanding 9,000

Dividends in arrears none

Common stock:

Par value per share $10

Shares issued 105,000

Dividends paid per share $2.10

Market price per share $48.00

Additional paid-in $520,000

Unappropriated retained earnings (after closing) $290,000

Retained earnings appropriated for contingencies $290,000

Common treasury stock:

Number of shares 9,000

Total cost $240,000

Net income $624,000

Compute : (assume no changes in balances during the past year): (Round per share and ratios to 2 decimal places)

(a) Total amount of stockholders' equity in the balance sheet

(b) Earnings per share of common stock per share

(c) Book value per share of common stock per share

(d) Payout ratio of common stock %