hat is the dividend per share on the preferred stock?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

Can you answer dividend per share (b.)

The stockholders’ equity section of the balance sheet for Mann Equipment Co. at December 31, Year 2, is as follows.

 

 
Stockholders’ Equity            
Paid-in capital            
Preferred stock, ? par value, 4% cumulative,            
170,000 shares authorized, 47,000 shares issued and outstanding $ 705,000        
Common stock, $12 stated value, 220,000 shares authorized, 47,000 shares issued and ?? shares outstanding   564,000        
Paid-in capital in excess of par—Preferred   37,000        
Paid-in capital in excess of stated value—Common   141,000        
Total paid-in capital       $ 1,447,000  
Retained earnings         320,000  
Treasury stock, 3,000 shares         (33,000 )
Total stockholders’ equity       $ 1,734,000  
 

Note: The market value per share of the common stock is $26, and the market value per share of the preferred stock is $19.

 

Required

  1. What is the dividend per share on the preferred stock?

Req A to D
Req F
a. What is the par value per share of the preferred stock?
b. What is the dividend per share on the preferred stock? (Round your answer to 2 decimal places.)
c. What is the number of common stock shares outstanding?
d. What was the average issue price per share (price for which the stock was issued) of the common stock? (Round your
answer to nearest whole dollar.)
a. Par value
b. Dividend
c. Common stock
d. Average issue price
$
$
15 per share
per share
44,000 shares
15 per share
<
Req A to D
Req F >
Show less
Transcribed Image Text:Req A to D Req F a. What is the par value per share of the preferred stock? b. What is the dividend per share on the preferred stock? (Round your answer to 2 decimal places.) c. What is the number of common stock shares outstanding? d. What was the average issue price per share (price for which the stock was issued) of the common stock? (Round your answer to nearest whole dollar.) a. Par value b. Dividend c. Common stock d. Average issue price $ $ 15 per share per share 44,000 shares 15 per share < Req A to D Req F > Show less
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education