Hello I need assistance on answering this question below:
Stockholders' Equity Section of the Balance Sheet - Assessment Activity - Week4 - ACC/291 - eCampus
Answer the following questions using the Lachlin Corporation Balance Sheet (partial) below:
How many shares of common stock are outstanding?
Assuming there is a stated value, what is the stated value of the common stock?
What is the par value of the preferred stock?
If the annual dividend on preferred stock is $36,000, what is the dividend rate on preferred stock?
If dividends of $72,000 were in arrears on preferred stock, what would be the balance reported for retained earnings?