From a review of the stockholders equity section as chief

Question

The stockholders' equity section of Jarvis Corporation at December 31 is as follows

Instructions

From a review of the stockholders' equity section, as chief accountant, write a memo to the president of the company answering the following questions.

(a) How many shares of common stock are outstanding?

(b) Assuming there is a stated value, what is the stated value of the common stock?

(c) What is the par value of the preferred stock?

(d) If the annual dividend on preferred stock is $30,000, what is the dividend rate on preferred stock?

(e) If dividends of $60,000 were in arrears on preferred stock, what would be the balance in RetainedEarnings?