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QUESTION
Exercise 11-4 The stockholders' equity section of Riverbed Corp's balance sheet at December 31 is presented here. RIVERBED CORP Balance Sheet...
Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,667 shares authorized, 6,400 shares issued and outstanding$ 640,000
Common stock, no par, 775,862 shares authorized, 600,000 shares issued2,400,000
Total paid-in capital3,040,000
Retained earnings1,191,000
Total paid-in capital and retained earnings4,231,000
Less: Treasury stock (5,800 common shares)30,933
Total stockholders' equity
Exercise 11-4The stockholders' equity section of Riverbed Corp's balance sheet at December 31 is presented here. RIVERBED CORPBalance Sheet (partial)Stockholders' equity Paid-in capitalPreferred stock, cumulative, 10,667 shares authorized, 6,400 shares issued and outstanding $ 640,000 Common stock, no par, 775,862 shares authorized, 600,000 shares issued 2,400,000Total paid-in capital 3,040,000Retained earnings 1,191,000 Total paid-in capital and retained earnings 4,231,000Less: Treasury stock (5,800 common shares) 30,933Total stockholders’ equity $4,200,067 From a review of the stockholders’ equity section, answer the following questions. (a) How many shares of common stock are outstanding? Common stock outstandingshares (b) Assuming there is a stated value, what is the stated value of the common stock? The stated value of the common stockper share (c) What is the par value of the preferred stock? The par value of the preferred stockper share (d) If the annual dividend on preferred stock is $57,600, what is the dividend rate on preferred stock?The dividend rate% (e) If dividends of $74,800 were in arrears on preferred stock, what would be the balance reported for retained earnings? The Retained Earnings balance