Reference no: EM132754797
Problem 1: prepare stockholders equity section - stuck on below
Preferred dividend is declared and a common dividend of 40 cents per share is declared
Other information:
2 classes of stock outstanding: 8%, $30 par preferred and $10 par common
Net income: $3,492,500.
Need help with dividend declared - how do I calculate the amount? What # x .40??
Paid-in Capital
Preferred Stock, 195,000 shares................................$5,850,000
Common Stock, 2,237,500 shares..............................22,375,000
Paid-in Capital in Excess of Par-Preferred.......................780,000
Paid-in Capital in Excess of Par-Common...................45,587,500
Common Treasury Stock Repurchase, 33,000 shares.....(726,000)
Common Treasury Stock Reissue, 11,000 shares..............55,000
Common Stock Reissue in Excess of Par.......................209,000
Total Paid-in Capital........................................$74,130,500
Dividends, Common Stock............................................
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