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
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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 >
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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
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