Question
Presented below is information related to Coronado Industries: December 31, 2021 2020 Common stock $ 75500 $ 59000 5% Preferred stock 356000 356000 Retained earnings
Presented below is information related to Coronado Industries:
December 31, | |||
2021 |
| 2020 | |
Common stock | $ 75500 |
| $ 59000 |
5% Preferred stock | 356000 |
| 356000 |
Retained earnings (includes net income for current year) | 89500 |
| 74400 |
Net income for year | 35900 |
| 31200 |
What is Coronados rate of return on common stock equity for 2021?
12.1%
11.0%
24.1%
21.9%
At December 31, 2020 and 2021, Concord Corporation had outstanding 3700 shares of $100 par value 6% cumulative preferred stock and 20000 shares of $10 par value common stock. At December 31, 2020, dividends in arrears on the preferred stock were $11100. Cash dividends declared in 2021 totaled $44500. What amounts were payable on each class of stock?
| Preferred Stock |
| Common Stock |
$33300 |
| $11200 |
$33400 |
| $11100 |
$44500 |
| $0 |
$22200 |
| $22300
|
Sheridan Company has an investment in 20800 shares of Pharoah Company common stock with a cost of $874000. These shares are used in a property dividend to stockholders of Sheridans. The property dividend is declared on May 25 and scheduled to be distributed on July 31 to stockholders of record on June 15. The fair value per share of Pharoah stock is $62 on May 25, $65 on June 15, and $67 on July 31. The net effect of this property dividend on retained earnings is a reduction of
$1352000.
$1289600.
$ 874000.
$1393600
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