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The Stockholders' Equity section of the FT Company balance sheet at the close of the current year follows: $ 6,000,000 210,000 Stockholders' Equity Preferred stock
The Stockholders' Equity section of the FT Company balance sheet at the close of the current year follows: $ 6,000,000 210,000 Stockholders' Equity Preferred stock (6.3%, $100 par value, 100,000 shares authorized) At Par Value (60,000 shares issued) Paid-in Capital in Excess of Par Value Common Stock (no-par value, stated value of $1; 2,200,000 shares authorized) At Stated Value Paid-in Capital in Excess of Stated Value Retained Earnings Total Stockholders' Equity 1,660,000 7,250,000 5,000,000 $20,120,000 Required: Answer the following: 1. What is the amount of the annual dividend on the preferred stock? Per share? In total? 2. How many shares of common stock have been issued? 3. What was the average price paid by the stockholders for the preferred stock? 4. What was the average price paid by the stockholders for the common stock? 5. How many shares of common stock are currently outstanding (held by stockholders)? 6. If total dividends of $5,018,000 were paid to stockholders in the current year, how much was paid to the common stockholders in total? Per share? Assume that no preferred dividends are in arrears
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