need help with #16 all A-D

15 Jan. Patrick Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2014, the company has the following stock transactions. 15 Issued 700,000 shares of stock at $7 per share. Sept. 5 Purchased 20,000 shares of common stock for the treasury at $8 per share. Dec. 6 Declared a $0.50 per share dividend to stockholders of record on December 20, payable January 3, 2015 Instructions Journalize the transactions for Patrick Corporation General Journal Account Ref. Cosh Debit Credit $4, %0.000 810,000 SALDO 00 9:00.000 Si6,000 Raud in capital in excess of mar to renca Shoringsod 120-5 Treasuru stock OSW (to record Treasutu Del Retained Garminos siihend Bodies To record Dividend danlared). on 3 Dividend ootables to record dividend payment) 5340.000 SH0.000 $310,000 $340,000 16 The stockholders' equity section of Patrick Corporation's balance sheet at December 31 is presented here: PATRICK CORPORATION Balance Sheet (partial) $ 600,000 Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,000 shares authorized, 6,000 shares issued and outstanding Common stock, no par. 750,000 shares authorized 600,000 shares issued Total paid-in capital Retained earnings Total pald-in capital and retained earnings Less: Treasury stock (4,000 common shares) Total stockholders' equity 6.000.000 6,600,000 1.350.000 7,958,000 (32.000) $7.926.000 Instructions 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? (0) What is the par value of the preferred stock? (d) If the annual dividend on preferred stock is $30,000, what is the dividend rate on preferred stock