P11-29A The balance sheet of Ballcraft, Inc., reported the following:

Preferrerd stock, $6 par,6% 5,000

shares authorized and issued $30,000

Common stock $4.00

par value, 45,000

shares authorized; 10,000

shares issued $40,000

Additional paid-in-capital-common 219,000

Total paid-in-capital $289,000

Retained earnings 90,000

Total stockholders’ equity $379,000

Preferred dividends are in arrears for two years, including the current year. On the balance sheet date, the market value of the Ballcraft common stock was $31 per share.

Requirements

Is the preferred stock cumulative or noncumulative ? How can you tell?
What is the total paid-in-capital of the company ?
What was the total market value of the common stock?
Compute the book value per share of the common stock?

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Posted on May 13, 2016Author TutorCategories Question, Questions