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JRH Corporation presents the following partial balance sheet as of December 31, 2015. Preferred stock, 100 par (8%. non-cumulative 100,000; shares authorized; ?? shares issued
JRH Corporation presents the following partial balance sheet as of December 31, 2015.
Preferred stock, 100 par (8%. non-cumulative 100,000; shares authorized; ?? shares issued | $1,900,000 |
Capital in excess of par, preferred stock | 106,000 |
Common stock, $5 par, 200,000 shares authorized, ?? shares issued | 950,000 |
Capital in excess of par, common stock | 1,970,000 |
Total contributed capital | $4,926,000 |
Retained earnings | 1,170,000 |
Treasury Stock, 40,000 common shares, at cost | (340,000) |
Total stockholders' equity | $5,756,000 |
- How much capital did the company raise by issuing preferred stock?
- How many shares of common stock were issued? What was the average issuing price )
- Assume that the company announces that they are going to pay $200,000 dividends. The company did not pay dividends last year. How much will be paid to the preferred stockholders?
- How many shares of common stock are outstanding?
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