60.1K

Verified Solution

Link Copied!

ce questions Question 6 of 7 0 Sarasota Corp Balance Sheet (partial) Stockholders' equity Paid in capital Preferred stock. cumulative, 10,833 shares authorized 6,500 shares issued and outstanding Common stock, no par. 729,310 shares authorized, 564,000 shares issued $ 663,000 1,692,000 Total paid-in capital 2,355,000 1,180,000 Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (7,800 common shares) 3,535,000 41,600 Total stockholders' equity $3,493,400 From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? Common stock outstanding shares (a) How many shares of common stock are outstanding? Common stock outstanding shares (b) Assuming there is a stated value, what is the stated value of the common stock? The stated value of the common stock $ per share (c) What is the par value of the preferred stock? The par value of the preferred stock S per share (d) If the annual dividend on preferred stock is $ 53,040, what is the dividend rate on preferred stock? The dividend rate 8% (e) If dividends of $ 72,300 were in arrears on preferred stock, what would be the balance reported for retained earnings? (d) If the annual dividend on preferred stock is $ 53,040, what is the dividend rate on preferred stock? The dividend rate 8 % (e) If dividends of $ 72,300 were in arrears on preferred stock, what would be the balance reported for retained earnings? The Retained Earnings balance $

Answer & Explanation Solved by verified expert

See Answer