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Purpose of Assignment
The purpose of this assignment is to help you become familiar with examining the stockholders’ equity section of the balance sheet.
Financial Accounting: Tools for Business Decision Making, Ch. 11
the following questions in 1,050 words using the Lachlin Corporation Balance Sheet located on p. 575 of Financial Accounting:
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?
the Week 4 Excel® spreadsheet and
with your answers.
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