QUESTION 1 The preferred stock has 557,740 shares authorized, with a par value of $100 and an annual $3.75 per share cumulative dividend preference. On Jan 1, 557,649 shares of preferred are issued and 546,024 shares are outstanding. There were also 1.8 billion shares of $1 par value common stock authorized, of which 924.6 million are issued and 844.8 million are outstanding. There was also $1M outstanding dividend liability on preferred stock. During the year, if $5M of dividend were declared by the board, the amount distributed to preferred stockholders is $ distributed to common stockholders, and dividend per share for common stock is $ (round to 3 decimals). If the entity had non-cumulative preferred stock, then the 2$ amount of dividend that will be distributed to preferred stockholders will be $ to common stockholders, and dividend per share for common stock is $ (round to 3 decimals). The entity issued an additional 63,360,000 common stocks, which is a % stock dividend, and common stock will increase by $ , and paid in capital in excess of par will increased by $ if the prevailing price on the date of declaration is $1.25. EPS will be $ (round to 3 decimals) if net income is $15M.

QUESTION 1 The preferred stock has 557,740 shares authorized, with a par value of $100 and an annual $3.75 per share cumulative dividend preference. On Jan 1, 557,649 shares of preferred are issued and 546,024 shares are outstanding. There were also 1.8 billion shares of $1 par value common stock authorized, of which 924.6 million are issued and 844.8 million are outstanding. There was also $1M outstanding dividend liability on preferred stock. During the year, if $5M of dividend were declared by the board, the amount distributed to preferred stockholders is $ distributed to common stockholders, and dividend per share for common stock is $ (round to 3 decimals). If the entity had non-cumulative preferred stock, then the 2$ amount of dividend that will be distributed to preferred stockholders will be $ to common stockholders, and dividend per share for common stock is $ (round to 3 decimals). The entity issued an additional 63,360,000 common stocks, which is a % stock dividend, and common stock will increase by $ , and paid in capital in excess of par will increased by $ if the prevailing price on the date of declaration is $1.25. EPS will be $ (round to 3 decimals) if net income is $15M.

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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