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Your answer is partially correct. The stockholder's' equity section of Cullumber Corporation's balance sheet...

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Accounting

Your answer is partially correct.
The stockholder's' equity section of Cullumber Corporation's balance sheet at December 31 is presented here.
Cullumber Corporation
Balance Sheet (partial)
Stockholders' equity
Paid-in capital
Preferred stock, cumulative, 8,800 shares authorized, 5,300 shares issued and outstanding
From a review of the stockholders' equity section, answer the following questions.
(a) How many shares of common stock are outstanding?
Number of shares of common stock outstanding
(b) Assuming there is a stated value, what is the stated value of the common stock?
Stated value of the common stock $
pershare
(c) What is the par value of the preferred stock?
Par value of the preferred stock
$
per share
(d) If the annual dividend on preferred stock is $42,400, what is the dividend rate on preferred stock?
Dividend rate
%
(e) If dividends of $84,800 were in arrears on preferred stock, what would be the balance reported for retained earnings?
Balance reported for retained eamings $
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