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Shown below is information relating to the stockholders' equity of Reeve Corporation as of December 31, 2018: 8% cumulative preferred stock, $100 par $ 600,000
Shown below is information relating to the stockholders' equity of Reeve Corporation as of December 31, 2018:
8% cumulative preferred stock, $100 par | $ | 600,000 | |
Common stock, $10 par, 500,000 shares authorized, 120,000 shares issued and outstanding | 1,200,000 | ||
Additional paid-in capital: Common stock | 600,000 | ||
Retained earnings (Deficit) | (60,000 | ) | |
Dividends in arrears | 48,000 | ||
What was the original issue price per share of common stock?
Select one:
a. $10.00 per share
b. $2.40 per share
c. $15.00 per share
d. $8.00 per share
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