Question
The following information pertains to Parsons Co.: Preferred stock, cumulative: Par value per share $100 Dividend rate 8% Shares outstanding 9,000 Dividends in arrears none
The following information pertains to Parsons Co.: Preferred stock, cumulative: Par value per share $100 Dividend rate 8% Shares outstanding 9,000 Dividends in arrears none Common stock: Par value per share $10 Shares issued 120,000 Dividends paid per share $2.10 Market price per share $48.00 Additional paid-in capital $520,000 Unappropriated retained earnings (after closing) $280,000 Retained earnings appropriated for contingencies $290,000 Common treasury stock: Number of shares 9,000 Total cost $250,000 Net income $628,000 Compute (assume no changes in balances during the past year): (Round per share and ratios to 2 decimal places, e.g. $15.25 or 15.25%.) (a) Total amount of stockholders' equity in the balance sheet $ (b) Earnings per share of common stock $ per share (c) Book value per share of common stock $ per share (d) Payout ratio of common stock % (e) Return on common stock equity
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started