Spiral Corporation's December 31, balance sheet shows the following: 8% preferred stock,

$10 par value, cumulative,

40,000 shares authorized; 18,000 shares issued, $180,000 Common stock, $1 par value,

4,000,000 shares authorized; 2,500,000 shares issued,

2,460,000 shares outstanding,

$2,500,000 Paid-in capital in excess of par value - preferred stock, $180,000 Paid-in capital in excess of par value - common stock, $52,000,000 Retained earnings,

$24,000,000 Treasury stock (40,000 shares) - $1,250,000

The company's total stockholders' equity is:

Question

Business

Kinley Eaton

17 July, 00:11

Spiral Corporation's December 31, balance sheet shows the following: 8% preferred stock,

$10 par value, cumulative,

40,000 shares authorized; 18,000 shares issued, $180,000 Common stock, $1 par value,

4,000,000 shares authorized; 2,500,000 shares issued,

2,460,000 shares outstanding,

$2,500,000 Paid-in capital in excess of par value - preferred stock, $180,000 Paid-in capital in excess of par value - common stock, $52,000,000 Retained earnings,

$24,000,000 Treasury stock (40,000 shares) - $1,250,000

The company's total stockholders' equity is:

+5

Answers (1)

Know the Answer?

Keith Shepard · Answer 1

The company's total stockholders' equity is $77,610,000.

Explanation:

Total Stockholders' Equity

= $180,000 + $2,500,000 + $180,000 + $24,000,000 + $52,000,000 - $1,250,000

= $77,610,000

Therefore, The company's total stockholders' equity is $77,610,000.