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11.4 referred A portion of the stockholders equity section from the balance sheet of Walland Corporation appears as follows: Stockholders equity: Preferred stock, 9% cumulative, $50 par, 40,000 shares authorized, issued, and outstanding . . . . $2,000,000 Preferred stock, 12% noncumulative, $100 par, 8,000 shares authorized, issued, and outstanding . .. 800,000 Common stock, $5 par, 400,000 shares authorized, issued, . 2,000,000 . .. $4,800,000 Total paid-in capital Assume that all the stock was issued on January I and that no dividends were paid during the first two years of operation. During the third year, Walland Corporation paid total cash dividends of $736,000 a. Compute the amount of cash dividends paid during the third year to each of the th of stock. Compute the dividends paid per share durin What was the average issue price of each type of preferred stock? g the third year for each of the three classes of stock. b. includes the following stockholders equity
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