Question
Francs Inc has the following stockholders' equity section in its November 30, 2019, balance sheet 5 Paid-in capits 15 preferred stuck, 100 par vals,
Francs Inc has the following stockholders' equity section in its November 30, 2019, balance sheet 5 Paid-in capits 15 preferred stuck, 100 par vals, 1,000 shares authorized, issued, and value, s0,000 shares authorized, 2 shares issued, 2 sutstanding 120,000 Additional paid in capital on common stock 270,000 Additional paid in capital from treasury stack 6,500 48,500 Retained earnings Less Treasury stock, at cost (1,000 shares of common) Tutal stockholders equity (0,000) Required: a. Calculate the amount of the total annual dividend requirement on preferred stock. b. Calculate the amount that should be shown on the balance sheet for preferred stock. c. Calculate the number of shares of common stock that are issued and the number of shares of common stock that are outstanding. d. On January 1, 2019, the firm's balance sheet showed common stock of $105,000 and additional paid-in capital on common stock of $234,375. The only transaction affecting these accounts during 2019 was the sale of common stock. Calculate the number of shares that were sold and the selling price per share. e. Choose the transaction that resulted in the additional paid-in capital from treasury stock. f. The retained earnings balance on January 1, 2019, was $45,150. Net income for the past 11 months was $12,000. Preferred stock dividends for all of 2019 have been declared and paid. Calculate the amount of dividends on common stock during the first 11 months of 2019. Complete this question by entering your answers in the tabs below. And Dan and n Bant Dan E
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