The Stockholders' Equity section of Foreign Tours Corporation's balance sheet at the close of the current year follows:
Stockholders' Equity
Preferred stock (8%, $75 par value, 100,000 shares authorized)
At Par Value (80,000 shares issued) ...................................................... $ 6,000,000
Paid-in Capital in Excess of Par Value ........................................................ 320,000
Common Stock (no-par value, stated value of $5, 1,800,000 shares authorized)
At Stated Value ............................................................................... 9,000,000
Paid-in Capital in Excess of Stated Value ................................................ 12,600,000
Retained Earnings ............................................................................. 5,600,000
Total Stockholders' Equity ................................................................ $33,520,000
1. What is the amount of the annual dividend on the preferred stock? Per share? In total?
2. How many shares of common stock have been issued?
3. What was the average price paid by the stockholders for the preferred stock?
4. What was the average price paid by the stockholders for the common stock?
5. How many shares of common stock are currently outstanding (held by stockholders)?
6. If total dividends of $2,550,000 were paid to stockholders in the current year, how much was paid to the common stockholders in total? Per share? Assume that no preferred dividends are in arrears.