Problem - The following information pertains to Parsons Co.:
Preferred stock, cumulative:
Par value per share $100
Dividend rate 8%
Shares outstanding 9,000
Dividends in arrears none
Common stock:
Par value per share $10
Shares issued 105,000
Dividends paid per share $2.10
Market price per share $48.00
Additional paid-in $520,000
Un-appropriated retained earnings (after closing) $290,000
Retained earnings appropriated for contingencies $290,000
Common treasury stock:
Number of shares 9,000
Total cost $240,000
Net income $624,000
Compute: (assume no changes in balances during the past year): (Round per share and ratios to 2 decimal places)
(a) Total amount of stockholders' equity in the balance sheet
(b) Earnings per share of common stock per share
(c) Book value per share of common stock per share
(d) Payout ratio of common stock %