How many shares of preferred and common stock

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X Corp., organized to consolidate VY Co. and Z Co., wil issue P100 par, 10% participating preferred stock for net assets contributions and P50 par common stock for the difference between total stock to be issued and preferred stock to be issued. Total stock to be issued by X Corp. shall be equal to average annual earnings capitalized at 10%. Relevant data follows: Y Y Z Total assets Total liabilities Common stock, par P100 Average annual earnings 450,000 69,120 P1,080,000 648,000 P1,382,000 518,000 750,000 103,680. Get the instant assignment help. As a result of the consolidation, how many shares of preferred and common stock, respectively, would Y (with 500 VY shares) receive?

Reference no: EM133921566

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