Problem 8-31 Comprehensive problem-calculate missing amounts, dividends, total shares, and per share information LO 1,...
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Problem 8-31 Comprehensive problem-calculate missing amounts, dividends, total shares, and per share information LO 1, 2, 3, 6,7 Francis, Inc., has the following stockholders' equity section in its November 30, 2016, balance sheet Paid-in capital 12% preferred stock, $60 par value, 1,000 shares authorized, issued, and outstanding Common stock, $8 par value, 50,000 shares authorized, shares issued, 2 shares outstanding 120,000 270,000 6,500 48,500 9,000 Additional paid-in capital on common stock Additional paid-in capital from treasury stock Retained earnings Less: Treasury stock, at cost (1,000 shares of Total stockholders' equity common) Required a. Calculate the amount of the total annual dividend requirement on preferred stock. l dividend b. Calculate the amount that should be shown on the balance sheet for preferred stock. Balance sheet amount c. Calculate the number of shares of common stock that are issued and the number of shares of common stock that are outstanding Number shares issued Number shares outstanding d. On January 1, 2016, the firm's balance sheet showed common stock of $105,000 and additional paid-in capital on common stock of $234,375. The only transaction affecting these
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