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I am having major trouble with this one. Can you please help? Analysis of stockholders' equity Star Corporation issued both common and preferred stock during
I am having major trouble with this one. Can you please help?
Analysis of stockholders' equity Star Corporation issued both common and preferred stock during 20X6. The stockholders' equity sections of the company's balance sheets at the end of 20X6 and 20X5 follow: Preferred stock, $100 par value, 10% 20X6 $640,000 20X5 $500,000 Common stock, $13 par value $2,350,000 $1,750,000 Paid-in capital in excess of par value Preferred $24,000 Common $4,620,000 $3,600,000 Retained earnings $8,470,000 $6,920,000 Total stockholders' equity $16,044,000 $12,770,000 a b c d Compute the number of preferred shares that were issued during 20X6. Calculate the average issue price of the common stock sold in 20X6. By what amount did the company's paid-in capital increase during 20X6? Did Star's total legal capital increase or decrease during 20X6? By what amount? A. Preferred shares issued B. Shares issued of common B. Average issued price of common C. Paid-in-capital increase D. Legal capital increaseStep by Step Solution
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