The Torre Company has the following balances in stockholders equityon December 31st.
Common Stock - $5.00 par,60,000 issued $300,000
Additional paid in capital-common 600,000
Preferred stock - $100par, 5,000issued 500,000
Additional paid in capital-preferred 100,000
Retainedearnings 200,000
Treasury stock (cost -$12.00 pershare) 60,000
Answer the followingquestions:
1. How many shares oftreasury stock are owned?
2. What was the averagemarket price per share at which common stock was issued?
3. What was the averagemarket price per share at which preferred stock wasissued?
4. What is the total valueof the Paid in Capital portion of stockholders equity?
5. What is the total valueof stockholders equity?
6. How many shares ofcommon stock are outstanding?
7. If net income for theyear was $75,000 and a preferred stock dividend of $20,000 waspaid,
what was the beginning valueof retained earnings? How much is earnings per share for
the year?
The Torre Company has the following balances in stockholders equityon December 31st.
Common Stock - $5.00 par,60,000 issued $300,000
Additional paid in capital-common 600,000
Preferred stock - $100par, 5,000issued 500,000
Additional paid in capital-preferred 100,000
Retainedearnings 200,000
Treasury stock (cost -$12.00 pershare) 60,000
Answer the followingquestions:
1. How many shares oftreasury stock are owned?
2. What was the averagemarket price per share at which common stock was issued?
3. What was the averagemarket price per share at which preferred stock wasissued?
4. What is the total valueof the Paid in Capital portion of stockholders equity?
5. What is the total valueof stockholders equity?
6. How many shares ofcommon stock are outstanding?
7. If net income for theyear was $75,000 and a preferred stock dividend of $20,000 waspaid,
what was the beginning valueof retained earnings? How much is earnings per share for
the year?