Homework Answers
13) Common Stock issued = 3000000/5 = 600000 Shares
Common Stock outstanding = 600000-20000 = 580000 Shares
Total price per share = 3180000/600000 = 5.30 per share
Cost per share of treasury stock = 280000/20000 = 14 per share
Total paid in capital and retained earnings = 3180000+500000 = 3680000
Total Stockholder's equity = 3680000-280000 = 3400000
15) Calculate preferred stock
| Total Stockholders equity | 150000 |
| Common Stock | -30000 |
| Paid in capital in excess of par value | -5000 |
| Retained earnings (70000+30000) | -100000 |
| Preferred stock | 15000 |
So answer is a) $15000
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