Question 19 --13 View Policies Current Attempt in Progress The stockholders' equity section of Tamarisk, Inc. at December 31 is as follows. Tamarisk, Inc. Balance Sheet (Partial) Paid-in capital Preferred stock, cumulative, 8,000 shares authorized, 4,800 shares issued and outstanding Common stock, no par, 870,000 shares authorized, 530,000 shares issued Total paid-in capital Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (7,000 common shares) Total stockholders' equity $240,000 1,060,000 1,300,000 1,858,000 3,158,000 42,000 $3,116,000 From a review of the stockholders' equity section, as chief accountant, write a memo to the president of the company answering the following questions. shares (a) How many shares of common stock are outstanding? Assuming there is a stated value, what is the stated value of the (b) common stock? per share sury stock (7,000 common shares) Total stockholders' equity 42,000 $3,116,000 From a review of the stockholders' equity section, as chief accountant, write a memo to the president of the company answering the following questions. shares $ per share (a) How many shares of common stock are outstanding? Assuming there is a stated value, what is the stated value of the (b) common stock? (c) What is the par value of the preferred stock? If the annual dividend on preferred stock is $19,200, what is the (d) dividend rate on preferred stock? If dividends of $38,400 were in arrears on preferred stock, what (e) would be the balance in Retained Earnings? per share % $ e Textbook and Media Save for Later