Advar × (--) ? O Not secure l eztomheducation.com/tm.tpx 100 points The stockhol

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Advar × (--) ? O Not secure l eztomheducation.com/tm.tpx 100 points The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, 7 issued of which 1,000 shares are held as treasury stock) Additional Paid-in Capital, Preferred Common Stock (no-par, authorized 20,000 shares, issued and 98,000 2,740 outstanding 5,700 shares Retained Earnings 552900 27,000 350 Treasury Stock 1,000 Preferred shares at cost Assume that no shares of treasury stock have been sold in the past Required Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.) 1 The number of shares of preferred stock issued was 2. The number of shares of preferred stock outstanding was 3 The average issue price of the preferred stock was 4 The average issue price of the common stock was 5 The treasury stock transaction increased (decreased) stockholders equity by 6 The treasury stock cost per share per share Total stockholders equity is DELL

Explanation / Answer

1. Number of Shares of preferred Stock issued was (98000/20) 4900 2. Number of Shares of Preferred Stock Outstanding was (4900-1000) 3900 3. The Average Issue price of Preferred Stock (12740+98000)/4900 22.6 4. Average Issue price of Common Stock (552900/20,000 shares) 27.645 5. The Treasury Stock Transaction decreased the Stockholder's equity by -9350 6. The treasury stock cost per share (9350/1000 shares) 9.35 per share 7. Total Stockholder's equity is 681290 Stockholder's equity is as sfollows: Preferred Stock Capital 98000 Additional paid in capital 565640 Preferred Stock 12740 Common Stock 552900 Retained Earnings 27000 Total 690640 Less: Treasury Stock -Preferred 9350 Total Stockholder's equity 681290

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