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The stockholders equity section of Swifty Corporations balance sheet at December 31 is presented here.
| SWIFTY CORPORATION Balance Sheet (partial) |
| Stockholders equity | | | |
| Paid-in capital | | | |
| Preferred stock, cumulative, 12,000 shares authorized, 7,200 shares issued and outstanding | | $ 756,000 | |
| Common stock, no par, 729,310 shares authorized, 564,000 shares issued | | 1,692,000 | |
| Total paid-in capital | | 2,448,000 | |
| Retained earnings | | 1,187,000 | |
| Total paid-in capital and retained earnings | | 3,635,000 | |
| Less: Treasury stock ( 7,500 common shares) | | 40,000 | |
| Total stockholders equity | | $ 3,595,000 | |
From a review of the stockholders equity section, answer the following questions. (a) How many shares of common stock are outstanding?
| Common stock outstanding | | enter a number of shares shares |
(b) Assuming there is a stated value, what is the stated value of the common stock?
| The stated value of the common stock | | $ enter a common stock value per share in dollars per share |
(c) What is the par value of the preferred stock?
| The par value of the preferred stock | | $ enter a preferred stock par value per share in dollars per share |
(d) If the annual dividend on preferred stock is $ 45,360, what is the dividend rate on preferred stock?
| The dividend rate | | enter a dividend rate on preferred stock in percentages % |
(e) If dividends of $ 77,600 were in arrears on preferred stock, what would be the balance reported for retained earnings?
| The Retained Earnings balance | | $ enter a Retained Earnings balance in dollars |
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