Question
Shown below is information relating to the stockholders' equity of Brookdale Corporation at December 31, 2018: 11% cumulative preferred stock, $130 par, 100,000 shares authorized,
Shown below is information relating to the stockholders' equity of Brookdale Corporation at December 31, 2018:
11% cumulative preferred stock, $130 par, 100,000 shares authorized, 10,000 shares issued $ 1,300,000
Common stock, $1.25 par, 1,000,000 shares authorized, 600,000 shares issued (of which 6,000 are held in treasury) $750,000
Additional paid-in capital: preferred stock $500,000
Additional paid-in capital: common stock $900,000
Additional paid-in capital: treasury stock transactions $6,000
Treasury stock (at cost: 6,000 common shares) ($192,000 )
Retained earnings $1,350,000
The average issue price per share of the preferred stock was:
Select one:
a. $150.
b. $165.
c. $180.
d. $195.
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