Requirements:

a) how many shares of common stock are outstanding?

b) assuming there is a stated value, what is the stated value of the common stock?

c) what is the par value of the prefered stock?

d) if the annual dividend on preffered stock is $21,000, what is the dividend rate on preffered stock?

e) if dividends of $42,000 were in arrears on preffered stock, what would be the balance in retained earnings?

Question 10 The stockholders' equity section of Faith Corporation at December 31 is as follows. FAITH CORPORATION Balance Sheet (partial) Paid-in capital Preferred stock, cumulative, 10,000 shares authorized, 5,000 shares issued and outstanding $300,000 Common Stock, no par, 750,000 shares authorized, 250,000 shares issued 1,500,000 Total paid-in capital 1,800,000 Retained earnings 2,050,000 Total paid-in capital and retained earnings 3,850,000 Less: Treasury stock ( 4,000 common shares) (64,000) Total stockholders' equity $3,786,000