KInitial sale price of common stock Hudson-Perry Recordings Inc has one issue of preferred stock and one issue of common stock outstanding. Giventheir stockholders' equity account that follows, determine the original price per share at which the firm sold its single issue of common stock.Stockholders' Equity ($000)Preferred stockCommon stock ($0.25 par, 1,404,000 shares outstanding)Paid-in capital in excess of par on common stockRetained earningsTotal stockholders' equityThe original price per share is $(Round to the nearest cent.)$22535119,4621,793$21,831

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Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Initial sale price of common stock Hudson-Perry Recordings Inc has one issue of preferred stock and one issue of common stock outstanding. Given their stockholders' equity account that follows, determine the original price per share at which the firm sold its single issue of common stock. Stockholders' Equity ($000) Preferred stock Common stock ($0.21 par, 1,406,000 shares outstanding) Paid-in capital excess of par on common stock Retained earnings Total stockholders' equity The original price per share is $ (Round to the nearest cent.) $224 295 19,467 1,809 $21,795 C

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