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Part A) The following are selected accounts for the Wicomico Company after all Fiscal Year December 31, 2018, adjusting entries & closing entries have been

Part A)

The following are selected accounts for the Wicomico Company after all Fiscal Year December 31, 2018, adjusting entries & closing entries have been posted. All balances are normal.

Account

Amount

Common Stock, $10 par

$260,000

Treasury Stock, at cost $16 per share

32,000

Dividends Payable

13,000

Paid in Capital in excess of par, Common Stock

52,000

Accounts Receivable

24,500

Retained Earnings

217,000

Bonds Payable

150,000

Preferred Stock, $100 par, 4% cumulative

100,000

Prepare only the Stockholder's Equity section of the Classified Balance Sheet for the year end. Be sure to use a good format, dollar signs and single underlines were required. There are a few extra lines in the formatted input answer form to allow for acceptable balance sheet format variations.

Part B)

At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders' equity of $4,700,000. On FY 2018 year end, Somerset Corporation had Common Stock account of $1,000,000 of $10 par value common stock and Preferred Stock account of $200,000 of $100 par value.There was no treasury stock. The preferred stock was noncumulative and had a call price of $102.Use this information to determine the book value per share of Common Stock as of end of the FY 2018: (Round your answer to the nearest penny.)

Part C)

Allstar Company signed a $300,000 mortgage on July 1, 2018 for the purchase of their new garage building. The mortgage entailed equal monthly payments of $2,500 at the end of each month. The interest rate is 7.0% per year.How much interest expense will be paid on August 31, 2018? (Round your answer to the nearest whole dollar.)

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