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Problem 4 (25 points) The stockholders' equity section of the balance sheet of Benson Corporation...

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Problem 4 (25 points) The stockholders' equity section of the balance sheet of Benson Corporation (with certain details omitted) appears below: Stockholders equity: 6% preferred stock, $100 par, 500000 shares authorized, ?? issued 2.800.000 Common stock, 25$ par, 500000 shares authorized ?? Shares issued 2.500.000 Additional paid-in capital: Preferred stock 140.000 Common stock 1.500.000 Total paid-in capital 6.940.000 Retained earnings 2.960.000 Total stockholders equity 9.900.000 Answer the following questions based on the stockholders' equity section given above. 1.What is the total amount of legal capital? (5 points) 2.How many shares of preferred stock are outstanding? (2.5 points) 3.How many shares of common stock are outstanding? (2.5 points) 4.What is the total amount of dividends paid annually to the preferred stockholders? (5 points) 5.What is the average issue price of a share of common stock? (5 points) 6. The balance in retained earnings at the beginning of the current year was $2,300,000, and there were no dividends in arrears. Net income for the current year was $1,440,000. What is the amount of the dividends declared on each share of common stock during the current year? (5pt)

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