Reference no: EM132487765
The stockholders' equity section of Blue Spruce Corp.'s balance sheet at December 31 is presented here.
BLUE SPRUCE CORP.
Balance Sheet (partial)Stockholders' equity Paid-in capital Preferred stock, cumulative, 12,300 shares authorized, 7,400 shares issued and outstanding$ 747,400
Common stock, no par, 760,000 shares authorized, 590,000 shares issued1,770,000
Total paid-in capital2,517,400
Retained earnings1,151,000
Total paid-in capital and retained earnings3,668,400
Less: Treasury stock (7,100 common shares)38,000
Total stockholders' equity$3,630,400
From a review of the stockholders' equity section, answer the following questions.
Question (a) How many shares of common stock are outstanding?
Question (b) Assuming there is a stated value, what is the stated value of the common stock?
Question (c) What is the par value of the preferred stock?
Question (d) If the annual dividend on preferred stock is $67,266, what is the dividend rate on preferred stock?
Question (e) If dividends of $73,000 were in arrears on preferred stock, what would be the balance reported for retained earnings?