Homework Answers
1.
| Preferred stock dividend per share ($75*8%) | $ 6 |
| Preferred stock dividend total ($6*80,000) | $ 4,80,000 |
2.
| Common stock at stated value | $ 90,00,000 |
| Stated value per share | $ 5 |
| Number of common stock issued ($9,000,000/5) | 18,00,000 |
3.
| Preferred stock at par | $ 60,00,000 |
| Paid in capital in excess of par | $ 3,20,000 |
| Total contributed capital from preferred stockholders | $ 63,20,000 |
| Number of shares issued | 80,000 |
| Average price per preferred stock ($6,320,000/80,000) | $ 79 |
4.
| Common stock at stated value | $ 90,00,000 |
| Paid in capital in excess of stated value | $ 1,26,00,000 |
| Total contributed capital from preferred stockholders | $ 2,16,00,000 |
| Number of shares issued | 18,00,000 |
| Average price per common stock ($21,600,000/1,800,000) | $ 12 |
5.
| Common stock at stated value | $ 90,00,000 |
| Stated value per share | $ 5 |
| Number of common stock issued ($9,000,000/5) | 18,00,000 |
6.
| Total dividends declared | $ 25,50,000 |
| Less: Preferred dividends | $ 4,80,000 |
| Total dividends for common stockholders | $ 20,70,000 |
| Per share dividends for common stockholders ($2,070,000/1,800,000) | $ 1.15 |
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