a.Elton Corporation has 6,000 shares of $100 par value,8 percent cumulative preferred stock and 10,000 shares of $50 par value common stock outstanding.All shares were issued at par value.In addition,retained earnings total $198,000.If the preferred stock is callable at $105 per share and one year's dividends are in arrears,compute book value per share of preferred stock.
b.Assume the same facts as in a above.Calculate book value per share of common stock.
c.Assume the same facts as in a above and that Elton Corporation declares a 15 percent stock dividend on its common stock.If the market value on the declaration date was $60 per share,for what amount will Additional Paid-in Capital,Common be credited?
d.Assume the same facts as in a above and that Elton Corporation declares a 4-for-1 stock split on its preferred stock.After the split,total par value of preferred stock equals what amount?

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The Answer of a.Elton Corporation has 6,000 shares of $100 par value,8 percent cumulative preferred stock and 10,000 shares of $50 par value common stock outstanding.All shares were issued at par value.In addition,retained earnings total $198,000.If the preferred stock is callable at $105 per share and one year's dividends are in arrears,compute book value per share of preferred stock.
b.Assume the same facts as in a above.Calculate book value per share of common stock.
c.Assume the same facts as in a above and that Elton Corporation declares a 15 percent stock dividend on its common stock.If the market value on the declaration date was $60 per share,for what amount will Additional Paid-in Capital,Common be credited?
d.Assume the same facts as in a above and that Elton Corporation declares a 4-for-1 stock split on its preferred stock.After the split,total par value of preferred stock equals what amount?

AElton Corporation Has 6,000 Shares of $100 Par Value,8 Percent