Timed Questions 41-42 (ot 44) [The following information appilies to the questio

Question

Timed Questions 41-42 (ot 44) [The following information appilies to the questions displayed below.] Raphael Corporation's common stock is currently selling on a stock exchange at $171 per share and its current balance sheet shows the foilowing stockhoiders equity section Preferred stock-5% cumuletive. S-par veue, 1,000 shares authorized, issued , and outstending s 60000 Common stock-$-par velue 4,000 shares authorized, issued, and outstanding 160,000 390000 Retained earnings Total stockkholders equity $ 610,000 2. What are the par values of the corporation's preferred stock and its common stock?

Explanation / Answer

2. Calculate par value :

6.1 Amount distribution of dividend :

6.2 Dividend per share for common stock = (10400/4000) = 2.60 per share

Corporation's common stock par value (160000/4000) 40 per share Corporation's preferred stock par value (60000/1000) 60 per share

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