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Required: From this information, compute answers to the following questions: a. How many shares of preferred stock have been issued? b. What is the total
Required: From this information, compute answers to the following questions: a. How many shares of preferred stock have been issued? b. What is the total amount of the annual dividends paid to preferred stockholders? Note: Round intermediate calculations to 2 decimal places. c. How many shares of common stock are outstanding? d. What was the average issuance price per share of common stock? Note: Round your answers to 2 decimal places. e. What is the amount of legal capital? f. What is the total amount of paid-in capital? g. What is the book value per share of common stock? (There are no dividends in arrears.) Note: Round your answers to 2 decimal places. h. Assume that retained earnings at the beginning of the year amounted to $717,500 and that net income for the year was $3,970,000. What was the dividend declared during the year on each share of common stock? (Hint: Net income increases retained earnings, whereas dividends decrease retained earnings.) Note: Round your answers to 2 decimal places
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