P13-43B The balance sheet of Creative Communications, Inc., reported the followi

Question

P13-43B The balance sheet of Creative Communications, Inc., reported the following Stockholders Paid-in capital: Preferred stock, ponvoting; no par, $3; 320,000 8,000 shares issued omon stock; $1.50 par, 40,000 shares issued. 60,000 Additional paid-in capital-common. 240,000 Retained Total stockholders' equity 620,000 130,000 750,000 Preferred dividends are in arrears for three years including the current yea r. On the balance sheet date, the marker value of the Creative Communications common stock is $14 per share. Requirements 1. Is the preferred stock cumulative or noncumulative? How can you tell? (p. 656) . Which class of stockholders controls the company? Give your rea- son. (pp. 645-655) 3. What is the total paid-in capital of the company? (pp. 649-650) . What was the total market value of the common stock? (p. 657) Compute the book value per share of the common stock. (p. 656)

Explanation / Answer

14*(40000+(240000/14))=800000

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