[jverbins]

A corporation reports the following stockholders' equity as of December 31, 2008.
Preferred stock, $50 par, 10% cumulative, 100,000 shares
Authorized, 90,000 shares issued $ 4,500,000
Paid-in capital in excess of par  common 945,000
Common stock, $10 par, 200,000 shares authorized,
200,000 shares issued 2,000,000
Paid-in capital in excess of par  common 800,000
Total paid-in capital 8,245,000
Retained earnings 3,400,000
Total stockholders' equity $11,645,000
a. What was the average issue price per share of common stock?
b. What was the average issue price per share of preferred stock?
c. The board of directors declares dividends of $1,900,000 in 2008. No dividends were
Declared in 2007 and there were no dividends in arrears prior to 2007. What is the amount
Per share each class of stock will receive?
1)
2) A corporation reports the following stockholders' equity as of December 31, 2008.

[JudyKayTee]

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