Kilgore Auto Parts reported the following information at December31, 2004:

- Preferred stock, 10%, $24 par value, cumulative $60,000
- Common stock, $2.50 par value 10,000
- Additional paid-in capital â Common stock 30,000
- Retained earnings 50,000
- Total contributed capital and retained earnings 150,000
- Less: Treasury stock (100 shares common stock at cost)(5,000)
- Total stockholdersâ equity $145,000

1. How many shares of common stock are issued? _____________

2. How many shares of preferred stock are issued?_____________

3. How many shares of common stock are outstanding?______________

4. What is the dividend PER SHARE that preferred shareholders areentitled to when a dividend is declared? __________________

5. What was the average price of common shares when they wereissued? __________

6. If a 45% stock dividend were issued, by how much would the totalstockholdersâ equity balance change? ___________________
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Question

Preferred Stock, 151,800 shares		$ 3,036,000
Common Stock, 2,120,000 shares		10,600,000
Paid-in Capital in Excess of ParâPreferred Stock		203,700
Paid-in Capital in Excess of ParâCommon Stock		27,240,000
Retained Earnings		4,547,000

Jan. 1		40,300 shares of preferred stock issued at $22 per share.
Feb. 1		53,500 shares of common stock issued at $21 per share.
June 1		2-for-1 stock split (par value reduced to $2.50).
July 1		39,700 shares of common treasury stock purchased at $9 pershare. Hatch uses the cost method.
Sept. 15		10,600 shares of treasury stock reissued at $11 per share.
Dec. 31		The preferred dividend is declared, and a common dividend of55Â¢ per share is declared.
Dec. 31		Net income is $2,279,000.

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