This is a (5) part question
Below is information relating to the stockholders' equity of "X Company" at December 31, 2018:
8% preferred stock, $150 par, 10,000 shares authorized and 6,000 issued: $900,000
Common stock, $6.50 par, 500,000 shares authorized 400,000 shares issued and outstanding: $2,600,000
Additional paid-in capital: preferred stock $132,000
Additional paid in capital: common stock $2,970,000
Retained earnings: $1,551,000
(Assume there are no dividends in arrears)
Answer the following. Show all calculations.
a) "X Company's" total legal capital at December 31, 2018
b) The total amount of "X Company's" paid-in capital at December 31, 2018.
c) The average price per share at which "X Company's" preferred stock was issued.
d) The book value per share of common stock.
e)The balance in Retained Earnings at the beginning of the year was $1,237,500, and net income for 2018 was $1,600,500. What was the amount of dividend declared on each share of common stock during 2018?
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