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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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