Beck Corporation has one issue of preferred stock and one issue of common stock outstanding. Given Beck’s stockholders’ equity account that follows, determine the original price per share at which the firm sold its single issue of common stock.
Stockholders’ Equity ($000)
Preferred stock .............. $125
Common stock ($0.75 par, 300,000
shares outstanding) ........... 225
Paid-in capital in excess of par on
common stock .............. 2,625
Retained earnings ........... 900
Total stockholders’ equity ........ $3,875