The stockholders' equity section of Cullumber Corporation at December $31$ ?is as follows:The stockholders' equity section of Cullumber Corporation at December $31$ ?is as follows:

CULLUMBER CORPORATION

Balance Sheet $($partial$)$

Paid$-$in capital

CULLUMBER CORPORATION

Balance Sheet $($partial$)$

Paid$-$in capital

How many shares of common stock are outstanding?

Common stock outstanding

shares

$($b$)$

At what average price per share was the common stock issued? $($Round answer to $2$ ?decimal places, e$.$g$.12\mathrm{.}75.)$

$($c$)$

What is the par value of the preferred stock?

Par value $$/$per share$=$

Transcribed Image Text:

The stockholders' equity section of Cullumber Corporation at December 31 is as follows: CULLUMBER CORPORATION Balance Sheet (partial) Paid-in capital Preferred stock, cumulative, 22,500 shares authorized, 18,500 shares issued and outstanding $1,850,000 Common stock, $3 par, 770,000 shares authorized, 525,000 shares issued 1.575,000 Paid-in capital in excess of par - common 210,000 Total paid-in capital 3,635,000 Retained earnings 1.883.000 Total paid-in capital and retained earnings 5.518.000 Less: Treasury stock (24.500 common shares) 134,750 Total stockholders' equity $5.383.250 The stockholders' equity section of Cullumber Corporation at December 31 is as follows: CULLUMBER CORPORATION Balance Sheet (partial) Paid-in capital Preferred stock, cumulative, 22,500 shares authorized, 18,500 shares issued and outstanding $1,850,000 Common stock, $3 par, 770,000 shares authorized, 525,000 shares issued 1.575,000 Paid-in capital in excess of par - common 210,000 Total paid-in capital 3,635,000 Retained earnings 1.883.000 Total paid-in capital and retained earnings 5.518.000 Less: Treasury stock (24.500 common shares) 134,750 Total stockholders' equity $5.383.250

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