Stockholders’ Equity Section of the Balance Sheet

Stockholders’ Equity Section of the Balance Sheet

Due Oct 15, 5:59 PM
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Assignment Files

Purpose of Assignment 
The purpose of this assignment is to help you become familiar with examining the stockholders’ equity section of the balance sheet. 
Assignment Steps 
Resources: Financial Accounting: Tools for Business Decision Making, Ch. 11

Answer 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?

Use the Week 4 Excel® spreadsheet and submit with your answers.

Click the Assignment Files tab to submit your assignment.

Stockholders’ Equity Section of the Balance Sheet Grading Guide
Week 4 Excel® Spreadsheet
Financial Accounting, Ch. 11: Reporting and Analyzing Stockholders’ Equity

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