Stockholders’ Equity Section of the Balance Sheet Acc II

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I will provide you with the information you need  to find the balance sheet. Also I have uploaded the worksheet that will need to be filled out as well as a separate word document  for the following


Answer

the following questions in 1,050 words using the Lachlin Corporation Balance Sheet located on p. 575 of Financial Accounting:

  • How many shares of common stock are outstanding?
  • Assuming there is a stated value, what is the stated value of the common stock?
  • What is the par value of the preferred stock?
  • If the annual dividend on preferred stock is $36,000, what is the dividend rate on preferred stock?
  • If dividends of $72,000 were in arrears on preferred stock, what would be the balance reported for retained earnings?
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