(Answered) Stockholders equity section of the balance sheetpurpose of

Accounting

Stockholders' Equity Section of the Balance Sheet

Purpose of Assignment - The purpose of this assignment is to help you become familiar with examining the stockholders' equity section of the balance sheet.

How many shares of common stock are outstanding?

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

What is the par value of the preferred stock?

If the annual dividend on preferred stock is $36,000, what is the dividend rate on preferred stock?

If dividends of $72,000 were in arrears on preferred stock, what would be the balance reported for retained earnings?

Use the Excel spreadsheet and submit with your answers.

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