Question
The stockholders equity section of Swifty Corporations balance sheet at December 31 is presented here. SWIFTY CORPORATION Balance Sheet (partial) Stockholders equity Paid-in capital Preferred
The stockholders equity section of Swifty Corporations balance sheet at December 31 is presented here.
SWIFTY CORPORATION Balance Sheet (partial) | |||
Stockholders equity | |||
Paid-in capital | |||
Preferred stock, cumulative, 12,000 shares authorized, 7,200 shares issued and outstanding | $ 756,000 | ||
Common stock, no par, 729,310 shares authorized, 564,000 shares issued | 1,692,000 | ||
Total paid-in capital | 2,448,000 | ||
Retained earnings | 1,187,000 | ||
Total paid-in capital and retained earnings | 3,635,000 | ||
Less: Treasury stock ( 7,500 common shares) | 40,000 | ||
Total stockholders equity | $ 3,595,000 |
From a review of the stockholders equity section, answer the following questions. (a) How many shares of common stock are outstanding?
Common stock outstanding | enter a number of shares shares |
(b) Assuming there is a stated value, what is the stated value of the common stock?
The stated value of the common stock | $ enter a common stock value per share in dollars per share |
(c) What is the par value of the preferred stock?
The par value of the preferred stock | $ enter a preferred stock par value per share in dollars per share |
(d) If the annual dividend on preferred stock is $ 45,360, what is the dividend rate on preferred stock?
The dividend rate | enter a dividend rate on preferred stock in percentages % |
(e) If dividends of $ 77,600 were in arrears on preferred stock, what would be the balance reported for retained earnings?
The Retained Earnings balance | $ enter a Retained Earnings balance in dollars |
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