Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Parsons, Inc., is a publicly owned company. The following information is excerpted from a recent balance sheet. Dollar amounts (except for per-share amounts) are stated

Parsons, Inc., is a publicly owned company. The following information is excerpted from a recent balance sheet. Dollar amounts (except for per-share amounts) are stated in thousands.

Stockholders' equity:
Convertible $17.20 preferred stock, $250 par value, 1,000,000 shares authorized; 345,000 shares issued and outstanding $ 86,250
Common stock, par value $0.50; 25,000,000 shares authorized 6,819
Additional paid-in capital 87,260
Retained earnings 57,263
Total stockholders' equity $ 237,592

Required:

From this information, answer the following questions.

a. How many shares of common stock have been issued? (Enter your answer in thousands.)

b. What is the total amount of the annual dividends paid to preferred stockholders? (Enter your answer in thousands.)

c. What is the total amount of paid-in capital? (Enter your answer in thousands.)

d. What is the book value per share of common stock, assuming no dividends in arrears? (Round your answers to 2 decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Global Accounting And Control A Managerial Emphasis

Authors: Sidney J. Gray, Stephen B. Salter, Lee H. Radebaugh

1st Edition

0471128082, 978-0471128083

More Books

Students also viewed these Accounting questions

Question

3. Dont make threats or raise your voice.

Answered: 1 week ago