Question 5 Thestockholders\' equity section of Kay Corporation at the end of the

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Question 5

Thestockholders' equity section of Kay Corporation at the end of thecurrent year showed:

Preferredstock (7%, $60 par, 8,000 shares issued & outstanding)........      ?

Commonstock ($9 par, 62,000 shares issued, 58,750 shares outstanding)..   558,000

Paid-incapital – preferred stock.......................................     ?

Paid-incapital – common stock..........................................   806,000

Retainedearnings.......................................................  125,000

Less: Treasury stock (3,250 shares at cost)............................   <48,750>

Totalstockholders' equity..............................................     ?

Question 5

Explanation / Answer

Preferred Stock ( 8,000 * 60 ) 480,000.00 ( 7% , $60par , 8000 Shares issued & outstanding ) Common Stock 558,000.00 Paid in Capital -Preferred Stock 480,000.00 Retained Earnings 125,000.00 Less : Treasury Stock (48,750.00) Total Stock Holders' Equity 1,594,250.00 Average price perShare 13.00 (806,000 / 62,000)

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