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Answer the following questions in 1050 words using the

Problem - Answer the following questions in 1,050 words using the Lachlin Corporation Balance Sheet

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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Accounting Basics: Answer the following questions in 1050 words using the

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