Razz Corporation's common stock is currently selling on a stock exchange at $175 per share, and its current balance sheet shows the following stockholders' equity section.
Preferred stock-5% cumulative, $___ par value, 1,000 shares
authorized, issued, and outstanding $ 85,000
Common stock-$___ par value, 4,000 shares authorized, issued,
and outstanding 140,000
Retained earnings 300,000
Total stockholders' equity $ 525,000
Required:
1. What is the current market value (price) of this corporation's common stock? (Omit the "$" sign in your response.)
Market price per share
2. What are the par values of the corporation's preferred stock and its common stock? (Omit the "$" sign in your response.)
Par value
Corporation's preferred stock
Corporation's common stock
3. If no dividends are in arrears, what are the book values per share of the preferred stock and the common stock? (Round your answers to 2 decimal places. Omit the "$" sign in your response.)
Preferred stock Common stock Book value per share
4. If two years' preferred dividends are in arrears, what are the book values per share of the preferred stock and the common stock? (Round your per share amount to 2 decimal places. Omit the "$" sign in your response.)
Preferred stock Common stock Book value per share
5. If two years' preferred dividends are in arrears and the preferred stock is callable at $95 per share, what are the book values per share of the preferred stock and the common stock? (Round your answers to 2 decimal places. Omit the "$" sign in your response.)
Preferred stock Common stock Book value per share
6. If two years' preferred dividends are in arrears and the board of directors declares cash dividends of $23,850, what total amount will be paid to the preferred and to the common shareholders? What is the amount of dividends per share for the common stock? (Round your per share amount to 2 decimal places. Omit the "$" sign in your response.)
Total amount paid to the preferred shareholders $
Total amount paid to the common shareholders $
Dividends per share for the common stock $