The stockholders' equity section of Novak Corporation's balance sheet at December 31 is presented here. Novak...

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The stockholders' equity section of Novak Corporation's balance sheet at December 31 is presented here. Novak Corporation Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,300 shares authorized, 6,200 shares issued and outstanding $620,000 Common stock, no par, 744,000 shares authorized, 574,000 shares issued 1,722,000 Total paid-in capital 2,342,000 Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (7,900 common shares) Total stockholders' equity 1,175,000 3,517,000 42,000 $3,475,000 From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? Common stock outstanding shares (b) Assuming there is a stated value, what is the stated value of the common stock? Stated value of the common stock $ (c) What is the par value of the preferred stock? Par value of the preferred stock $ per share per share (d) If the annual dividend on preferred stock is $31,000, what is the dividend rate on preferred stock? Dividend rate 96 (e) If dividends of $62,000 were in arrears on preferred stock, what would be the balance reported for retained earnings? Balance reported for retained earnings $ eTextbook and Medla Save for Later Attempts: 0 of 3 used Submit Answer The stockholders' equity section of Novak Corporation's balance sheet at December 31 is presented here. Novak Corporation Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,300 shares authorized, 6,200 shares issued and outstanding $620,000 Common stock, no par, 744,000 shares authorized, 574,000 shares issued 1,722,000 Total paid-in capital 2,342,000 Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (7,900 common shares) Total stockholders' equity 1,175,000 3,517,000 42,000 $3,475,000 From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? Common stock outstanding shares (b) Assuming there is a stated value, what is the stated value of the common stock? Stated value of the common stock $ (c) What is the par value of the preferred stock? Par value of the preferred stock $ per share per share (d) If the annual dividend on preferred stock is $31,000, what is the dividend rate on preferred stock? Dividend rate 96 (e) If dividends of $62,000 were in arrears on preferred stock, what would be the balance reported for retained earnings? Balance reported for retained earnings $ eTextbook and Medla Save for Later Attempts: 0 of 3 used Submit Answer