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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

The only transaction affecting additional paid in capital during the month of May was the sale of additional common stock. Determine price per share were the additional shares sold?

 

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M919700

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