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The market price of a share of common stock at the time of issuance was $19.50, while the market price of a preferred share of
The market price of a share of common stock at the time of issuance was $19.50, while the market price of a preferred share of stock at the time of issuance was $32. The company paid $12.50 per share for its treasury stock. Required: Determine the missing amount in the stockholders' equity section of the balance sheet set forth below. (Input all amounts as positive values.) Contributed Capital: Preferred Stock, $2.00 par value, authorized 1,000,000 shares; issued 300,000 shares Additional Paid-in Capital - Preferred Stock Common Stock, $3.00 par value, authorized 40,000,000 shares; issued 25,600,000 shares Additional Paid-in Capital - Common Stock Total Contributed Capital Retained Earnings Stockholders' Equity Treasury Stock, at Cost (10,000 shares) Total Stockholders' Equity $ 600,000 9,000,000 9,600,000 305,683,000 $ 315,283,000
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