The year-end balance sheet of Columbus Products, Incorporated, includes the following stockholders’ equity section (with certain details omitted).Stockholders' equity:  Capital stock:  7% cumulative preferred stock, $100 par value $ 17,000,000Common stock, $5 par value, 5,000,000 shares authorized, 4,100,000 shares issued and outstanding 20,500,000Additional paid-in capital:  Common stock 43,000,000Retained earnings 64,450,000Total stockholders’ equity $ 144,950,000From this information, compute answers to the following questions:Required:How many shares of preferred stock have been issued?What is the total amount of the annual dividends to which preferred stockholders are entitled?What was the average issuance price per share of common stock?What is the amount of legal capital and the amount of total paid-in capital?What is the book value per share of common stock, assuming no dividends in arrears?Is it possible to determine the fair market value per share of common stock from the stockholders' equity section above?

Required informationProblem 11-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3Skip to question[The following information applies to the questions displayed below.]The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow.Stockholders’ Equity (January 1)  Common stock—$4 par value, 100,000 shares authorized, 35,000 shares issued and outstanding $ 140,000Paid-in capital in excess of par value, common stock 100,000Retained earnings 360,000Total stockholders’ equity $ 600,000Stockholders’ Equity (December 31)  Common stock—$4 par value, 100,000 shares authorized, 41,000 shares issued, 5,000 shares in treasury $ 164,000Paid-in capital in excess of par value, common stock 160,000Retained earnings ($40,000 restricted by treasury stock) 400,000  724,000Less cost of treasury stock (40,000)Total stockholders’ equity $ 684,000The following transactions and events affected its equity during the year.January 5 Declared a $0.50 per share cash dividend, date of record January 10.March 20 Purchased treasury stock for cash.April 5 Declared a $0.50 per share cash dividend, date of record April 10.July 5 Declared a $0.50 per share cash dividend, date of record July 10.July 31 Declared a 20% stock dividend when the stock’s market value was $14 per share.August 14 Issued the stock dividend that was declared on July 31.October 5 Declared a $0.50 per share cash dividend, date of record October 10.Problem 11-4A (Algo) Part 22. What is the total dollar amount for each of the four cash dividends?

A company reported the following stockholders’ equity on January 1 of the current year:Common stock–$10 par value, 1,000,000 shares authorized; 270,000 shares issued $ 2,700,000Paid-in capital in excess of par value, common stock 1,280,000Retained earnings 1,695,000Total stockholders’ equity $ 5,675,000Prepare journal entries for the following selected transactions.March 1  Purchased 12,000 shares of its own stock for $25 cash per share.May 5  Sold 6,000 shares of its treasury stock for $25 cash per share.October 12  Sold 4,000 shares of its treasury stock for $26 cash per share.

Stockholders’ equity of Ernst Company consists of 85,000 shares of $5 par value, 11% cumulative preferred stock and 305,000 shares of $1 par value common stock. Both classes of stock have been outstanding since the company’s inception. Ernst did not declare any dividends in the prior year, but it now declares and pays a $150,000 cash dividend at the current year-end.Determine the amount distributed to each class of stockholders for this two-year-old company.

The balance sheet shows the following accounts and amounts:Cash $26,000; Short-term Debt $42,000; Buildings and Equipment $840,000; Inventory, $88,000; Notes Payable $120,000; Accumulated Depreciation $220,000; Common Stock $160,000; Accounts Receivable $76,000; Retained Earnings $474,000; Accounts Payable $34,000.Total assets on the balance sheet are:Multiple Choice$1,030,000.$734,000.$1,250,000.$810,000.

On January 31, a company's balance sheet showed net assets of $2,600 and liabilities of $700. Stockholders' equity on January 31 was:Multiple Choice$2,600.$700.$3,300.$1,900.