In: Accounting
Preferred 1% Stock, $50 par (100,000 shares authorized, 79,600 shares issued) | $3,980,000 |
Paid-In Capital in Excess of Par—Preferred Stock | 159,200 |
Common Stock, $3 par (5,000,000 shares authorized, 1,870,000 shares issued) | 5,610,000 |
Paid-In Capital in Excess of Par—Common Stock | 1,215,500 |
Retained Earnings | 31,497,000 |
During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows:
Jan. | 5 | Issued 532,900 shares of common stock at $9, receiving cash. |
Feb. | 10 | Issued 11,000 shares of preferred 1% stock at $58. |
Mar. | 19 | Purchased 45,400 shares of treasury common for $8 per share. |
May | 16 | Sold 21,400 shares of treasury common for $10 per share. |
Aug. | 25 | Sold 4,300 shares of treasury common for $7 per share. |
Dec. | 6 | Declared cash dividends of $0.50 per share on preferred stock and $0.07 per share on common stock. |
31 | Paid the cash dividends. |