Question
Timberlake Corporation is a publicly owned company. The following information is taken from a recent balance sheet. Dollar amounts (except for per share amounts) are
Timberlake Corporation is a publicly owned company. The following information is taken from a recent balance sheet. Dollar amounts (except for per share amounts) are stated in thousands. Stockholders' Equity 10% cumulative preferred stock, $100 par value, 20,000 shares authorized $50,000 Common stock, $2 par value, 300,000 shares 160,000 authorized Additional paid-in capital: common stock 1,120,000 Retained earnings 1,670,000 Total stockholders' equity $3,000,000 I a. How many shares of preferred stock have been issued? Blank 1 b. What is the total amount of annual dividends paid to preferred stockholders? Blank 2 c. How many shares of common stock have been issued? Blank 3 d. What is the average issuance price per share of common stock? Blank 4
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