Homework Answers
1)The $3.2 per share represent the amount of preferred dividend payable per share.
2)The total value of preferred share = Number of shares issued and outstanding * average price
= 65000 * 15
= 975000
3)The total value of common share = Total contributed capital - total value of preferred share
= 1575000 - 975000
= 600000
4)Total number of common shares = Total value of common shares/ average issue price for common stock
= 600000 / 4
= 150000 shares
5)Total value of retained earning as on December 31 2018 =Beginning balance+ net income -dividend
= 250000 + 130000 - 25000
= 355000
6)Total equity = 2+ 3 +5
= 975000+ 600000 + 355000
= 1930000
**There is an error in problem as the balance sheet format provided shows balance sheet as on 2018 however problem ask for 2017
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