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Problem 8-23 Analyzing the stockholders equity section of the balance sheet LO 8-4, 8-7

The stockholders equity section of the balance sheet for Gator Company at December 31, 2014, is as follows:

Stockholders Equity
Paid-in capital
Preferred stock, ? par value, 4% cumulative,
290,000 shares authorized, 59,000 shares issued and outstanding	$	590,000
Common stock, $15 stated value, 340,000 shares authorized, 59,000 shares issued and ? outstanding		885,000
Paid-in capital in excess of parPreferred		49,000
Paid-in capital in excess of stated valueCommon		295,000
Total paid-in capital					1,819,000
Retained earnings					440,000
Treasury stock, 3,000 shares					(42,000	)
Total stockholders equity				$	2,217,000

Note: The market value per share of the common stock is $38, and the market value per share of the preferred stock is $31.

Required

a.	What is the par value per share of the preferred stock?

b.	What is the dividend per share on the preferred stock? (Round your answer to 2 decimal places.)

c.	What is the number of common stock shares outstanding?

d.	What was the average issue price per share (price for which the stock was issued) of the common stock? (Round your answer to 2 decimal places.)

f.	If Gator declared a 2-for-1 stock split on the common stock, how many shares would be outstanding after the split? What amount would be transferred from the Retained Earnings account because of the stock split? Theoretically, what would be the market price of the common stock immediately after the stock split?

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