Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2018, is as follows. $ 636,000 Stockholders' Equity Paid-in capital
The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, 2018, is as follows. $ 636,000 Stockholders' Equity Paid-in capital Preferred stock,? par value, 58 cumulative, 230,000 shares authorized, 53,000 shares issued and outstanding Common stock, $25 stated value, 280,000 shares authorized, 53,000?? shares issued and outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated value-Common Total paid-in capital Retained earnings Treasury stock, 9,000 shares Total stockholders' equity 1,325,000 43,000 159,000 2,163,000 380,000 (36,000) $2,507,000 Note: The market value per share of the common stock is $44, and the market value per share of the preferred stock is $25. Required a. What is the par value per share of the preferred stock? b. What is the dividend per share on the preferred stock? c. What is the number of common stock shares outstanding? d. What was the average issue price per share (price for which the stock was issued) of the common stock? f. If Mann Equipment Company declared a 2-for-1 stock split on the common stock, how many shares will be outstanding after the split? What amount will be transferred from the retained earnings account because of the stock split? Theoretically, what will be the market price of the common stock immediately after the stock split? Complete this question by entering your answers in the tabs below. Reg A to D Reg F a. What is the par value per share of the preferred stock? b.What is the dividend per share on the preferred stock? (Round your answer to 2 decimal places.) c. What is the number of common stock shares outstanding? (Round your answer to nearest whole dollar.) d. What was the average issue price per share (price for which the stock was issued) of the common stock? Show less a. Par value per share b. Dividend share Common stock shares d. Average issue price per share Req A to D ReqF > Complete this question by entering your answers in the tabs below. Req A to D ReqF If Mann Equipment Company declared a 2-for-1 stock split on the common stock, how many shares will be outstanding after the split? What amount will be transferred from the retained earnings account because of the stock split? Theoretically, what will be the market price of the common stock immediately after the stock split? Shares outstanding after the split Amount transferred form retained earnings Market price of common stock after split
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