In a recent year, the stockholders\' equity section of ABC Company of America sh

Question

In a recent year, the stockholders' equity section of ABC Company of America showed the following (in alphabetical order): additional paid-in capital $6,168,700, common stock $1,858,760, preferred stock $73,386, retained earnings $7,382,600, and treasury stock 2,830,000. The preferred stock has 5,582 shares authorized, with a par value of $13.50 and an annual $4.01 per share cumulative dividend preference. At December 31, 5,540 shares of preferred are issued and 5,436 shares are outstanding. There are 1,755,000 shares of $2 par value common stock authorized, of which 929,380 are issued and 847,400 are outstanding at December 31. Instructions Complete the stockholders' equity section, including disclosure of all relevant data. (List multiple items in the order presented on p.589 DO IT! in the textbook.) ABC COMPANY OF AMERICA Stockholders' equity , $ par value, $4.01 dividend, cumulative, shares authorized, shares issued and shares outstanding $ , $ par value, shares authorized, issued and shares outstanding Less: () Total stockholders' equity $

Explanation / Answer

ABC Company of America Stockholders' Equity Capital Stock Preferred Stock, $11.10 par value, $4.65 per share cumulative, 5,535 authorized 5,488 shares issued, 4,342 shares outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$. . .60,917 Common Stock, $2 par value, 1.861,000 shares authorized, 923,510 shares issued, 839,530 outstanding . . . . . . . . . . . . . . . . . . . . . .1,847,020 Total Capital Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,907,937 Additional paid-in capital Excess over par . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,396,000 Total paid-in capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9,303,937 Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7,396,000 Total paid-in capital in retained earnings . . . . . . . . . . . . . . . . . . . . . . . . 16,699,937 Less: Cost of Treasury Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2,808,000 Total Stockholders' Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $13,891,937 *Note: The amount of preferred stock that is given "preferred stock $59,296.200," seems to be a typo. So I used the par value (11.10) x shares issued (5,488

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