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The year-end balance sheet of Smithfield Products includes the following stockholders' equity section (with certain details omitted): Stockholders' equity: 71/2% cumulative preferred stock, $100 par
The year-end balance sheet of Smithfield Products includes the following stockholders' equity section (with certain details omitted): Stockholders' equity: 71/2% cumulative preferred stock, $100 par value, 100,000 shares authorized Common stock, $2 par value, 900,000 shares authorized Additional paid-in capital: Common stock Retained earnings $ 2,400,000 900,000 7,200,000 2,595,000 Total stockholders' equity $13,095,000 From this information, compute answers to the following questions a. How many shares of preferred stock have been issued? Number of shares of preferred stock b. What is the total amount of the annual dividends paid to preferred stockholders? (Round intermediate calculations to 2 decimal places. Omit the "$" sign in your response) Annual preferred stock dividend c. How many shares of common stock are outstanding? Number of shares of common stoclk d. What was the average issuance price per share of common stock? (Round your answers to 2 decimal places. Omit the "$" sign in your response) Average issuance price e. What is the amount of legal capital? (Omit the "$" sign in your response) Legal capital f. What is the total amount of paid-in capital? (Omit the "$" sign in your response) Paid in capital g. What is the book value per share of common stock? (There are no dividends in arrears.) (Round your answers to 2 decimal places. Omit the "$" sign in your response) Book value per share$
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