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  3. 1. the following information pertains to parsons c

1. The following information pertains to Parsons Co.: Preferred stock, cumulative:...

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Accounting

1. The following information pertains to Parsons Co.:
Preferred stock, cumulative:
Par value per share $100
Dividend rate6%
Shares outstanding10,000
Dividends in arrears none
Common stock:
Par value per share $10
Shares issued120,000
Dividends paid per share $1.80
Market price per share $48.00
Additional paid-in capital $400,000
Unappropriated retained earnings (after closing) $270,000
Retained earnings appropriated for contingencies $300,000
Common treasury stock:
Number of shares10,000
Total cost $250,000
Net income $500,000
Instructions
Compute (assume no changes in balances during the past year):
(a) Total amount of stockholders equity in the balance sheet
(b) Earnings per share of common stock

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