How do i add this on to this spread sheet?*****Excel spread sheet********

Answer (a) Number of common stock outstanding are 574,000 (580,000-6,000). Outstanding shares are the shares excluding the treasury stocks because treasury stocks are the stocks which are re-purchased i.e., the shares which are issued but they are not outsanding.

Answer (b) The stated value of common stock are 5 (2,900,000/580,000).

Answer (c) The par value of prefered stocks is $100 per share (600,000/6,000).

Answer to (d) The Dividend rate is 6% The Total annual dividend on Preferred Stock= $ 36,000 No. of issued Preferred Stock = 6,000 Share Dividend Per share = $6 (36000/6000) Par Value of 1 Preferred Stock = $100 Therefore, the Dividend Rate = 6% Answer to (e) The Retained Earning Balance= $10,86,000 As the Dividend of $ 72,000 are in arrears on Preferred Stock, They will be paid first, means the retained earning will be the balance amount after paying arrears dividend on Preferred Stock Retainied Earning = 10,86,000 (1158000-72000)

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Name

Exercises 11-4

Section

Date

E11-4

Lachlin Corporation

(a)

(b)

(c)

(d)

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Answer the following questions in 1,050 words using the Lachlin Corporation Balance Sheet located on p. 575 of Financial Accounting:

• How many shares of common stock are outstanding?
• Assuming there is a stated value, what is the stated value of the common stock?
• What is the par value of the preferred stock?
• If the annual dividend on preferred stock is $36,000, what is the dividend rate on preferred stock?
• If dividends of $72,000 were in arrears on preferred stock, what would be the balance reported for retained earnings?

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