The balance sheet caption for common stock is the following: Common stock withou

Question

The balance sheet caption for common stock is the following:


Common stock without par value, 4,500,000 shares authorized,
760,000 shares issued, and 670,000 shares outstanding $3,600,000

Required:
(a)
Calculate the average price at which the shares were issued. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Price $

(c)
If a cash dividend of $.14 per share were declared, calculate the total amount of cash that would be paid to stockholders. (Omit the "$" sign in your response.)

Cash $

Explanation / Answer

a. 3,600,000/760,000 = 4.74 answer: 4.74 c. 670,000*0.14 = 93,800 answer: 93,800

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