Your task is to analyze Puyol Corp.'s reorganization plan Puyol Corp. has reported losses for the past three years and has finally decided to file for bankruptcy. You know that the company has preferred stock A that has a par value of $115.00, pays a dividend of $8 per share, and that there are 1,600,000 shares of this class outstanding. Preferred stock B is callable at $175, has 80,000 shares outstanding, and pays a dividend of $11.00 per share. The company's common stock has a par value of $3.00 and has 8,000,000 shares outstanding You have also collected the following data from the company's financial statements: Puyol Corp Data from Financial Statements (Millions of dollars) Balance Sheet Income Statement $168.00 Current liabilities $42.00 Net sales $540.00 516.00 24.00 3.00 27.00 13.50 13.50 7.20 0.60 $5.70 Current assets Net fixed assets Goodwil 153.00 Advance payments 78.00 Operating expense 15.00 Reserves 6.00 184.00 Net operating income Other income Class A Preferred stock Class B Preferred stock Common stock Retained earnings 14.00 EBT 24.00 Taxes (50%) -12.00 Net income Dividends on Class A Preferred stock Dividends on Class B Preferred stock Total assets $336.00 Total claims $336.00 Income available to common stockholders Your task is to analyze Puyol Corp.'s reorganization plan Puyol Corp. has reported losses for the past three years and has finally decided to file for bankruptcy. You know that the company has preferred stock A that has a par value of $115.00, pays a dividend of $8 per share, and that there are 1,600,000 shares of this class outstanding. Preferred stock B is callable at $175, has 80,000 shares outstanding, and pays a dividend of $11.00 per share. The company's common stock has a par value of $3.00 and has 8,000,000 shares outstanding You have also collected the following data from the company's financial statements: Puyol Corp Data from Financial Statements (Millions of dollars) Balance Sheet Income Statement $168.00 Current liabilities $42.00 Net sales $540.00 516.00 24.00 3.00 27.00 13.50 13.50 7.20 0.60 $5.70 Current assets Net fixed assets Goodwil 153.00 Advance payments 78.00 Operating expense 15.00 Reserves 6.00 184.00 Net operating income Other income Class A Preferred stock Class B Preferred stock Common stock Retained earnings 14.00 EBT 24.00 Taxes (50%) -12.00 Net income Dividends on Class A Preferred stock Dividends on Class B Preferred stock Total assets $336.00 Total claims $336.00 Income available to common stockholders
