s 49 CHAPTER 1 cha o ft mbem is to provide an opportunity to recieme both neke concepts in the cur purpose of this p Infegnating accounting concepts and preparing for ezan REQUIREDI Use the following information for the sis questions Ashley Corporation's ledlger includes the following account balances a CUMULATIVE REVIEw PROBLEM: CHAPTR arte o should assist you tn ooncepts in precious chapters. This cumulatice reciere should assistwe and major t December 31, 2011 300,000 100,000 150,000 800,000 100,000 400,000 8,000 60,000 500,000 900,000 200,000 Accounts Payable Paid-in Capital in Excess of Par Value, Preterred Paid-in Captal in Excess of Par Value, Common Cash Retained Earmings Dividends Payable Treasury Stock, Common, 2,000 shares Preferred Stock, 9% $100 par value, 5,000 shares ased Bonds Payable Common Stock, $1 par value, 200,000 shares issued 1 The balance sheet prepared at December 31, 2011, would report total paid-in-capital of 2. The balance sheet prepared at December 31, 2011, would report total legal capital of 3. The balance sheet prepared at December 31, 2011, would report total stockholders' equity of 4. The number of common shares outstanding at December 31, 2011, would be 5. Compute the book value per common share assuming there are no dividends in arrears on the preferred stock (Round answer to nearest cent) 6. Assuming the Preferred Stock is "Cumulative" and preferred dividends are in arrears for 2010 (last year). If a total of $240,000 of dividends are available for distribution in 2011, how much would the common shareholders receive