Darren corp has the following details for one of its subsidiaries: Long-term debt: 9% payable for notes = $1,018,000 convertible bonds payable at 7% -5,048,000 Bonds payable at 9% -6,026,000 Total long-term debt-$12,092,000 Shareholders' equity: Preferred stock, 6% cumulative, $57 par value, 106,300 shares authorized, 26,575 shares issued and outstanding-$1,514,775 Common stock, $1 par, 10,075,000 shares authorized, 1,007,500 shares issued and outstanding 1,007,500 Additional paid-in capital=4,001,800 Retained earnings=6,018,900 Total shareholders' equity-$12,542,975 Options were granted on July 1, 2013, to purchase 203,700 shares at $18 per share. Although no options were exercised during fiscal year 2014, the average price per common share during fiscal year 2014 was $20 per share.

Darren corp has the following details for one of its subsidiaries: Long-term debt: 9% payable for notes = $1,018,000 convertible bonds payable at 7% -5,048,000 Bonds payable at 9% -6,026,000 Total long-term debt-$12,092,000 Shareholders' equity: Preferred stock, 6% cumulative, $57 par value, 106,300 shares authorized, 26,575 shares issued and outstanding-$1,514,775 Common stock, $1 par, 10,075,000 shares authorized, 1,007,500 shares issued and outstanding 1,007,500 Additional paid-in capital=4,001,800 Retained earnings=6,018,900 Total shareholders' equity-$12,542,975 Options were granted on July 1, 2013, to purchase 203,700 shares at $18 per share. Although no options were exercised during fiscal year 2014, the average price per common share during fiscal year 2014 was $20 per share.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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