Question - JRH Corporation presents the following partial balance sheet as of December 31, 2015.
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Preferred stock, 100 par (8%. non-cumulative 100,000; shares authorized; ?? shares issued
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$1,900,000
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Capital in excess of par, preferred stock
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106,000
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Common stock, $5 par, 200,000 shares authorized, ?? shares issued
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950,000
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Capital in excess of par, common stock
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1,970,000
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Total contributed capital
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$4,926,000
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Retained earnings
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1,170,000
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Treasury Stock, 40,000 common shares, at cost
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(340,000)
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Total stockholders' equity
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$5,756,000
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How much capital did the company raise by issuing preferred stock?
How many shares of common stock were issued? What was the average issuing price?
Assume that the company announces that they are going to pay $200,000 dividends. The company did not pay dividends last year. How much will be paid to the preferred stockholders?
How many shares of common stock are outstanding?