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Kilgore Auto Parts reported the following information at December 31, 2004: - Preferred stock, 10%, $24 par value, cumulative $60,000 - Common stock, $2.50 par
Kilgore Auto Parts reported the following information at December 31, 2004: - Preferred stock, 10%, $24 par value, cumulative $60,000 - Common stock, $2.50 par value 10,000 - Additional paid-in capital Common stock 30,000 - Retained earnings 50,000 - Total contributed capital and retained earnings 150,000 - Less: Treasury stock (100 shares common stock at cost) (5,000) - Total stockholders equity $145,000 1. How many shares of common stock are issued? _____________ 2. How many shares of preferred stock are issued? _____________ 3. How many shares of common stock are outstanding? ______________ 4. What is the dividend PER SHARE that preferred shareholders are entitled to when a dividend is declared? __________________ 5. What was the average price of common shares when they were issued? __________ 6. If a 45% stock dividend were issued, by how much would the total stockholders equity balance change? ___________________
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