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Problem $11\mathrm{.}5$A $($Algo$)$ Analysis of an Equity Section of a Balance Sheet $($LO$11-4,$ LO$11-5)$

The year$-$end balance sheet of Ft$.$ Smith Products includes the following stockholders' equity section $($with certain details omitted$).$

Required:

From this information, compute answers to the following questions.

a$.$ How many shares of preferred stock have been issued?

b$.$ What is the total amount of the annual dividends paid to preferred stockholders? $($Round intermediate calculations to $2$ decimal places.$)$

c$.$ How many shares of common stock are outstanding?

d$.$ What was the average issuance price per share of common stock? $($Round your answers to $2$ decimal places.$)$

e$.$ What is the amount of legal capital?

f$.$ What is the total amount of paid$-$in capital?

g$.$ What is the book value per share of common stock? $($There are no dividends in arrears.$)($Round your answers to $2$ decimal places.$)$

h$.$ Assume that retained earnings at the beginning of the year amounted to $$717,500$ and that net income for the year was $$3,970,000$

What was the dividend declared during the year on each share of common stock? $($Hint: Net income increases retained earnings, whereas dividends decrease retained earnings.$)($Round your answers to $2$ decimal places.$)$

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