Reference no: EM13603992

The stockholders' equity section of the balance sheet of Flint Corp. (with certain details omitted) appears below: Stockholders' equity: 8% cumulative preferred stock, $100 par, callable at $105, 100,000 shares authorized, ??? shares issued $1,800,000 Common stock, $5 par, 200,000 shares authorized, ??? shares issued 750,000 Additional paid-in capital: Preferred stock 72,000 Common stock 2,250,000 Total paid in capital $4,872,000 Retained earnings 1,131,000 Total stockholders' equity $3,146,000 Answer the following questions based on the stockholders' equity section given above: What is the total amount of legal capital? What is the total amount of dividends paid annually to the preferred stockholders? What is the average issue price of a share of common stock? The balance in retained earnings at the beginning of the current year was $1,000,000, and there were no dividends in arrears. Net income for the current year was $500,000. What is the amount of the dividends declared on each share of common stock during the current year?