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problem Find missing amounts, net income, issue price & dividends; interpret stock dividend & split Bacon, Inc., has the following owners' equity section in its May 31, 2009, comparative balance sheets:

 

31-May-09

30-Apr-09

Paid-In capital:

 

 

Preferred stock, $120 par value, 8%, cumulative, 100,000 shares authorized 80,000 shares issued and outstanding.................

 

 

 

$9,600,000

$9,600,000

Common stock, $6 par value, 600,000 shares authorized, 400,000 and 380,000 shares issued, respectively...................................

 

 

 

 

 

?

2,280,000

 

Additional paid-in capital..............................................................

16,800,000

16,480,000

Retained earnings ........................................................................................

13,900,000

13,624,000

Less: Treasury common stock, at cost; 18,000 shares and 17,000 shares, respectively ...................................................................................................

 

 

-1,660,000

-1,632,000

 

Total stockholders' equity ...........................................................................

mce_markernbsp;         ?  

$40,352,000

Suppose that instead of the stock dividend describeed in f, the board of directors authorized A 2-for-1 stock split on June 1 when the market rate of the common stock was 36 dollar per share.

[A] Find the market price per share of common stock after the split?
[B] Find the par value, and how many shares of common stock will be authorized after the split?
[C] How many shares of common stock will be in the treasury after the split?

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M919714

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