How many shares of common stock are outstanding

Assignment Help Financial Accounting

Reference no: EM131389392

Assignment

The purpose of this assignment is to help you become familiar with examining the stockholders' equity section of the balance sheet.

Assignment Steps

Resources: Financial Accounting: Tools for Business Decision Making

Answer the following questions in 1,050 words using the Lachlin Corporation Balance Sheet (partial) below:

• How many shares of common stock are outstanding?
• Assuming there is a stated value, what is the stated value of the common stock?
• What is the par value of the preferred stock?
• If the annual dividend on preferred stock is $36,000, what is the dividend rate on preferred stock?
• If dividends of $72,000 were in arrears on preferred stock, what would be the balance reported for retained earnings?

Use the Week 4 Excel spreadsheet and submit with your answers.

Reference no: EM131389392

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