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The year-end balance sheet of Mirror Inc includes the following stockholders equity section with certain details omitted Stockholders equity 10% cumulative preferred stock

The year-end balance sheet of Mirror, Inc., includes the following stockholders equity section (with certain details omitted): Stockholders equity: 10% cumulative preferred stock, $100 par value, authorized 100,000 shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,400,000 Common stock, $2 par value, authorized 2,000,000 shares . . . . . . . . . . . . 3,400,000 Additional paid-in capital: common stock . . . . . . . . . . . . . . . . . . . . . . . . . 6,800,000 Donated capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400,000 Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,160,000 Total stockholders equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $18,160,000 Instructions From this information, compute answers to the following questions: a. How many shares of preferred stock have been issued? b. What is the total amount of the annual dividends paid to 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 capital? f. What is the total 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 at the beginning of the year amounted to $1,200,

Apr 09 2020 Read more Less More

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