MY ANSWERS ARE NOT CORRECT SO PLEASE SOLVE ALL PARTS
Homework Answers
Part 1
Average cost of common shares = value of common stock / number of shares issued = 2634000/658500 = $4.00 per share
Part 2
Average cost of preferred shares = value of preferred stock / number of shares issued = 570000/5700 = $100 per share
Part 3
Annual dividend (preferred shares) = $28500
(dividend rate is 5% (5/100))
Annual dividend = 570000*5%
Part 4
Retained earnings = $1109000
(as dividend is still in arrears and not being declared or paid, there will be no deductions from retained earnings)
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MY ANSWERS ARE NOT CORRECT SO PLEASE SOLVE ALL
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Please show all the work! Thank you so much! The following is the Shareholders Equity section...
Please show all the work! Thank you so much!
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Please show all the work! Thank you so much!
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