A firm has balance sheet accounts indicating the following: "common stock" = $40,000; "paid in...
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Accounting
A firm has balance sheet accounts indicating the following: "common stock" = $40,000; "paid in capital in excess of par on common" = $500,000; "preferred stock" = $100,000; "retained earnings" = $750,000. The firm has 40,000 common shares outstanding. Given that information, the single issue of common stock originally sold for:
(Answer choices below)
$12.50 per share
$13.50 per share
$16.00 per share
$34.75 per share
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