The Stockholders' Equity section of the December 31, 2017, balance sheet of Carter Company appeared as follows:

Question:

Preferred stock, $50 par value, 10,000 shares authorized, ? shares issued .............$ 400,000

Common stock, ? par value, 20,000 shares authorized, 14,000 shares issued ............280,000

Additional paid-in capital-Preferred ..........................................................12,000

Additional paid-in capital-Common .........................................................980,000

Additional paid-in capital-Treasury stock .....................................................2,000

Total contributed capital ....................................................................$1,674,000

Retained earnings .................................................................................80,000

Treasury stock, preferred, 200 shares .........................................................(12,800)

Total stockholders' equity ...........................................................................$ ?

Required

Determine the following items based on Carter's balance sheet.

1. The number of shares of preferred stock issued

2. The number of shares of preferred stock outstanding

3. The average per-share sales price of the preferred stock when issued

4. The par value of the common stock

5. The average per-share sales price of the common stock when issued

6. The cost of the treasury stock per share

7. The total stockholders' equity

8. The per-share book value of the common stock assuming that there are no dividends in arrears and that the preferred stock can be redeemed at its par value.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...