holders Equity See xUniversty of Phoenixc Fir x Seaure I https//phoenixcvitalsource.com/*/books/978111922830 781119228301/cfy6/401/4/134/2000 E11-4 The stockholders' equity section of Lachlin Co LACHLIN CORPORATION Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,000 shares authorized, Common stock, no par, 750,000 shares authorined, 6,000 shares issued and outstanding 5 600,000 580,000 shares issued Total paid-in capital 2.900,000 3,500,000 1,158,000 4,658,000 32,000 4,626,000 Retained earnings Total paid-in capital and retained earmings Less Treasury stock (6,000 common shares) Total stockholders' equity From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? (b) Assuming there is a stated value, what is the stated value of the common stock? (c) What is the par value of the preferred stock? (d) If the annual dividend on preferred stock is $36,00o, what is the dividend rate on preferred stock? (e) If dividends of $72,000 were in arrears on preferred stock, what would be the balance reported for retained earnings? Prepare correct entries for capital stock transactions. (LO'2), AN E11-5 Mesa Corporation recently hired a new accountant with extensive experience in accounting for partnerships. Because of the "nahle 'n rontmehst he had learned esrl iar ,hwyt mmoratinn smnnntine hrine the first month h. mada the fllning entries s75 Financial Accounting: Tools for Business Decision Making ^ ek 4 Type here to