The year end balance sheet of Ft. Smith Products includes the following stockholders equity section (with certain details omitted) Please answer D-H 7 1/2% cumulative preferred stock, $100 par value, 100,000 shares authorized $2,400,000 Common stock, $2 par value, 900,000 shares authorized 900,000 Additional paid in capital:common stock 8,325,000 Retained earnings 2,595,000 Total stockholders equity 14,220,000 A. How many shares of preferred stock have been issued? B. What is the total amount of the annual dividends paid ot preferred stockholders? C. How many shares of common stock are outstanding? D. What was the average issuance price per share of common stock? E. What is the amount of legal stock? F. what is the amount of paid-in capital? G. What is the book value per share of common stock?(there are no dividends in arrears) H. Assume that retained earnings in the beginning of the year amounted to $717,500 and that net income for the year was $3,970,000. What was the dividend declared during the year on each share of common stock? Number of shares of preferred stock 24,000 Annual preferred stock dividend 180,000 Number of outstanding shares of common stock 450,000 Average issuance price of common stock per share Legal capital Paid in capital Book value per share of common stock per share Common stock dividend per share per share

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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The year end balance sheet of Ft. Smith Products includes the following stockholders equity section (with certain details omitted) Please answer D-H

7 1/2% cumulative preferred stock, $100 par value, 100,000 shares authorized	$2,400,000
Common stock, $2 par value, 900,000 shares authorized	900,000
Additional paid in capital:common stock	8,325,000
Retained earnings	2,595,000
Total stockholders equity	14,220,000

A. How many shares of preferred stock have been issued?

B. What is the total amount of the annual dividends paid ot preferred stockholders?

C. How many shares of common stock are outstanding?

D. What was the average issuance price per share of common stock?

E. What is the amount of legal stock?

F. what is the amount of paid-in capital?

G. What is the book value per share of common stock?(there are no dividends in arrears)

H. Assume that retained earnings in the beginning of the year amounted to $717,500 and that net income for the year was $3,970,000. What was the dividend declared during the year on each share of common stock?

Number of shares of preferred stock	24,000
Annual preferred stock dividend	180,000
Number of outstanding shares of common stock	450,000
Average issuance price of common stock		per share
Legal capital
Paid in capital
Book value per share of common stock		per share
Common stock dividend per share		per share

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