Homework Answers
a.Number of shares of preferred stock that have been issued = Total Capital/Par value per Stock
= $15,000,000/$100
= 150,000 shares
b. The total amount of the annual dividends to which preferred stockholders are entitled = 7%*15,000,000
= $1,050,000
c. The average issuance price per share of common stock = (Par Value + Additional paid in Capital)/Number of shares issued
= (20,000,000+44,000,000)/4,000,000
= $16
d.Legal Capital = $15,000,000+20,000,000 = $35,000,000
Total paid in capital = Par value + Additional paid in capital
= $15,000,000 + 20,000,000+44,000,000
= $79,000,000
e. book value per share of common stock, assuming no dividends in arrears = (Par value + Additional paid in capital + retained earnings)/ Number of shares issued
= (20,000,000+ 44,000,000+ 64,450,000)/4,000,000
= $32.1125
f.No, it’s not possible to determine the fair market value per share of common stock from the stockholders' equity section above. Since the given information relates to book value, there’s no information about the market. Market value is very different from the book value, hence market value cannot be determined.
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