The stockholders$$ equity section of the balance sheet for Mann Equipment Co$.$ at December $31,$ Year $2,$ is as follows.

Stockholders$$ Equity

Paid$-$in capital

Preferred stock, $?$ par value, $5\%$ cumulative,

$150,000$ shares authorized, $45,000$ shares issued and outstanding $ $540,000$

Common stock, $$15$ stated value, $200,000$ shares authorized, $45,000$ shares issued and $??$ shares outstanding $675,000$

Paid$-$in capital in excess of par$$Preferred $35,000$

Paid$-$in capital in excess of stated value$$Common $225,000$

Total paid$-$in capital $ $1,475,000$

Retained earnings $300,000$

Treasury stock, $4,000$ shares $(30,000)$

Total stockholders$$ equity $ $1,745,000$

Note: The market value per share of the common stock is $$36,$ and the market value per share of the preferred stock is $$17.$

Required

What is the par value per share of the preferred stock?

What is the dividend per share on the preferred stock?

What is the number of common stock shares outstanding?

What was the average issue price per share $($price for which the stock was issued$)$ of the common stock?

If Mann Equipment Company declared a $2-$for$-1$ stock split on the common stock, how many shares would be outstanding after the split? What amount would be transferred from the Retained Earnings account because of the stock split? Theoretically, what would be the market price of the common stock immediately after the stock split?

Answer rating: 100% (QA)

1 Par value per share of the preferred stock The par value per share of the preferred stock is not p... View the full answer