How many shares of common stock are outstanding use the

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Reference no: EM13576786

You've Made It Corporation presents the following partial balance sheet as of December 31, 2015:

Stockholders' Equity

Contributed Capital

Preferred stock, 4% cumulative ($25 par value; 50,000 shares authorized;

30,000 shares issued and outstanding )

$ 750,000

Capital in excess of par, preferred stock

225,000

Common stock ($0.01 par value; 800,000 shares authorized; ________ shares issued and ____ shares outstanding

5,000

Capital in excess of par, common stock

1,300,000

Total contributed capital	$ 2,280,000
Retained Earnings	1,020,000
Treasury Stock, 40,000 common shares, at cost	(120,000)
Total stockholders' equity	$ 3180,000

1. How much capital did the company raise by issuing preferred stock?

2. How many shares of common stock were issued? What was the average issuing price?

3. What is the current year's dividend stipulated for the preferred shareholders?

4. Assume $15,000 dividends are paid to preferred stockholders in 2014 and $25,000 are paid to preferred stockholders in 2015. If the company announces that they will pay a total of $280,000 dividends to all shareholders in 2016, how much would have to be paid to preferred shareholders before any dividends are paid to common shareholders?

5. How many shares of common stock are outstanding? Use the information in Question #4, how much dividends can common shareholders receive for each share of stock?

6. What is the cost per share of the treasury stock?

Reference no: EM13576786

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