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How many shares of common stock are outstanding

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Problem - Answer the following questions in 1,050 words using the Lachlin Corporation Balance Sheet

  • 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?

Reference no: EM131629708

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