Homework: Stockholders' Equity Section of the Balance Sheet
Answer the following questions in 1,050 words using the Lachlin Corporation Balance Sheet located on p. 575 of Financial Accounting:
A. How many shares of common stock are outstanding?
B. Assuming there is a stated value, what is the stated value of the common stock?
C. What is the par value of the preferred stock?
D. If the annual dividend on preferred stock is $36,000, what is the dividend rate on preferred stock?
E. If dividends of $72,000 were in arrears on preferred stock, what would be the balance reported for retained earnings?
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.
Attachment:- Balance-Sheet.rar