The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, Year 1, is as follows: Stockholders' Equity Paid-in Capital Preferred stock, ? par value, 5% cumulative, 160,000 shares authorized, 46,000 shares issued and outstanding - Debit $460,000 Common stock, $20 stated value, 210,000 shares authorized, 46,000 shares issued and outstanding Debit 920,000 Paid-in capital in excess of par-Preferred Debit 36,000 Paid-in capital in excess of stated value-Common Debit 161,000 Total paid-in capital= 1,577,000 Retained earnings= 310,000 Total Stockholders Equity= 1,887,000 Note: The market value per share of the common stock is $38, and the market value per share of the preferred stock is $18. a. What is the par value per share of the preferred stock? b. What is the dividend per share on the preferred stock? Round answer to 2 decimal places c. What was the average issue price per share (price for which the stock was issued) of the common stock? Round answer to 2 decimal places.
The stockholders' equity section of the balance sheet for Mann Equipment Co. at December 31, Year 1, is as follows:
Stockholders' Equity
Paid-in Capital
160,000 shares authorized, 46,000 shares issued and outstanding - Debit $460,000
Common stock, $20 stated value, 210,000 shares
authorized, 46,000 shares issued and outstanding Debit 920,000
Paid-in capital in excess of par-Preferred Debit 36,000
Paid-in capital in excess of stated value-Common Debit 161,000
Total paid-in capital= 1,577,000
Total
Note: The market value per share of the common stock is $38, and the market value per share of the preferred stock is $18.
a. What is the par value per share of the preferred stock?
b. What is the dividend per share on the preferred stock? Round answer to 2 decimal places
c. What was the average issue price per share (price for which the stock was issued) of the common stock? Round answer to 2 decimal places.
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