Problem C:The adjusted trial balance of Valiao Corp. on December 31, 2010 includes the following account balances:

Dividends Payable

P40,000

Ordinary Share Capital (P5 par, 500,000 shares authorized)

750,000

Ordinary Share Capital Subscribed (5,000 subscribed)

25,000

Ordinary Share Premium

50,000

10% Preference Share Capital (25,000 shares authorized, 12,000 shares outstanding)

300,000

Preference Share Premium

30,000

Retained Earnings Appropriated for Contingencies

150,000

Retained Earnings Appropriated for Bond Retirement

100,000

Retained Earnings - Unappropriated

450,000

Ordinary Share Capital Dividends Distributable

105,000

Paid-in ,Capital from Share Capital Dividend

63,000

1.What is the number of ordinary shares issued and outstanding?

2.What is the par value of each preferred share?

3.What is the market value of the share capital dividend distributable?