Stockholders? Equity Section of the Balance Sheet - Assessment Activity - Week4 - ACC/291 - eCampus

Answer the following questions in 1,050 words using the LachlinCorporation Balance Sheet (partial) below:

• How many shares of common stock are outstanding?
• Assuming there is a stated value, what is the stated value of the common stock?
• What is the par value of the preferred stock?
• If the annual dividend on preferred stock is $36,000, what is the dividend rate on preferred stock?
• If dividends of $72,000 were in arrears on preferred stock, what would be the balance reported for retained earnings?

Name Section Date E11-4 (a) (b) (c) (d) (e) 627 Exercises 11-4 Lachlin Corporation 627