Analysis of Stockholders' Equity The Stockholders' Equity section of the December 31, 2017, balance sheet of Eldon Company appeared as follows: Preferred stock, $50 par value, 5,000 shares authorized, ? shares issued $275,000 Common stock, ? par, 10,000 shares authorized, 10,000 shares issued 100,000 Additional paid-in capital—Preferred 7,700 Additional paid-in capital—Common 800,000 Additional paid-in capital—Treasury stock 1,200 Total contributed capital $1,183,900 Retained earnings 43,000 Treasury stock, preferred, 100 shares (3,500) Total stockholders’ equity $ ? Required: Determine the following items based on Eldon's balance sheet. Round all calculations except per-share amounts to the nearest whole number; round per-share amounts to the nearest cent. 1. The number of shares of preferred stock issued fill in the blank 1 shares 2. The number of shares of preferred stock outstanding fill in the blank 2 shares 3. The average per-share sales price of the preferred stock when issued $fill in the blank 3 per share 4. The par value of the common stock $fill in the blank 4 per share 5. The average per-share sales price of the common stock when issued $fill in the blank 5 per share 6. The cost of the treasury stock per share $fill in the blank 6 per share 7. The total stockholders' equity $fill in the blank 7 8. The per-share book value of the common stock assuming that there are no dividends in arrears and that the preferred stock can be redeemed at its par value $fill in the blank 8 per share

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter11: Stockholders' Equity

Section: Chapter Questions

Problem 11.12MCP

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Analysis of Stockholders' Equity

The Stockholders' Equity section of the December 31, 2017, balance sheet of Eldon Company appeared as follows:

Preferred stock, $50 par value, 5,000 shares authorized, ? shares issued	$275,000
Common stock, ? par, 10,000 shares authorized, 10,000 shares issued	100,000
Additional paid-in capital—Preferred	7,700
Additional paid-in capital—Common	800,000
Additional paid-in capital—Treasury stock	1,200
Total contributed capital	$1,183,900
Retained earnings	43,000
Treasury stock, preferred, 100 shares	(3,500)
Total stockholders’ equity	$ ?

Required:

Determine the following items based on Eldon's balance sheet. Round all calculations except per-share amounts to the nearest whole number; round per-share amounts to the nearest cent.

1. The number of shares of preferred stock issued
fill in the blank 1 shares

2. The number of shares of preferred stock outstanding
fill in the blank 2 shares

3. The average per-share sales price of the preferred stock when issued
$fill in the blank 3 per share

4. The par value of the common stock
$fill in the blank 4 per share

5. The average per-share sales price of the common stock when issued
$fill in the blank 5 per share

6. The cost of the treasury stock per share
$fill in the blank 6 per share

7. The total stockholders' equity
$fill in the blank 7

8. The per-share book value of the common stock assuming that there are no dividends in arrears and that the preferred stock can be redeemed at its par value
$fill in the blank 8 per share

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