What do you use to find the average issue price of preferred stock?
Equation reads:
Preferred stock, 9% cumulative, $50 par, 40,000 shares
authorized, issued and outstanding... $2,000,000
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What do you use to find the average issue price of preferred stock?
Equation reads:
Preferred stock, 9% cumulative, $50 par, 40,000 shares
authorized, issued and outstanding... $2,000,000
How about the divident?
The issue price of your stock is the par value.
Dividends are paid @ 9% * $50 * # of shares issued and outstanding.
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