Stockholders' equity

Paid-in capital

Preferred stock, cumulative,10,833shares authorized,6,500shares issued and outstanding $663,000

Common stock, no par,729,310shares authorized,564,000shares issues 1,692,000

Total paid-in capital 2,355,000

Retained earnings 1,180,000

Total paid-in capital and retained earnings 3,535,000

Less: Treasury stock (7,800common shares) 41,600

Total stockholders' equity $3,493,400

From a review of the stockholders' equity section, answer the following questions.

(a) How many shares of common stock are outstanding?

Common stock outstanding

shares

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

The stated value of the common stock$

per share

(c) What is the par value of the preferred stock?

The par value of the preferred stock$

per share

(d) If the annual dividend on preferred stock is $53,040, what is the dividend rate on preferred stock?

The dividend rate

%

(e) If dividends of $72,300were in arrears on preferred stock, what would be the balance reported for retained earnings?

The Retained Earnings balance$