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The year-end statement of financial position of Smithfield Products includes the following shareholders' equity section (with certain details omitted): Shareholders' equity 71/2% noncumulative preference shares,
The year-end statement of financial position of Smithfield Products includes the following shareholders' equity section (with certain details omitted): Shareholders' equity 71/2% noncumulative preference shares, $100 par value, 100,000 shares authorized Ordinary shares, $2 par value, 900,000 shares authorized Share premium: Ordinary shares Retained earnings $ 2,500,000 900,000 7,200,000 2,595,000 Total shareholders' equity $13,195,000 From this information, compute answers to the following questions: a. How many shares of preference share have been issued? Number of shares of preference share b. What is the total amount of the annual dividends paid to preference shareholders? (Round intermediate calculations to 2 decimal places. Omit the "$" sign in your response) Annual preference share dividend c. How many shares of ordinary shares are outstanding? Number of shares of ordinary shares d. What was the average issuance price per share of ordinary shares? (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 ordinary shares? (There are no dividends in arrears.) (Round your answers to2 decimal places. Omit the "$" sign in your response) Book value per share $ h. Assume that retained earnings at the beginning of the year amounted to $717,500 and that profit for the year was $3,970,000. What was the dividend declared during the year on each share of ordinary shares? (Hint: Profit increases retained earnings, whereas dividends decrease retained earnings.) (Round your intermediate and final answers to 2 decimal places. Omit the "$" sign in your response) Dividend per share of ordinary shares $
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