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- P11-8A The following stockholders’ equity accounts arranged alphabetically are in the ledger of McGrath Corporation at December 31, 2011.
- Common Stock ($10 stated value) $1,500,000
- Paid-in Capital from Treasury Stock 6,000
- Paid-in Capital in Excess of Stated Value-Common Stock 690,000
- Paid-in Capital in Excess of Par Value-Preferred Stock 288,400
- Preferred Stock (8%, $100 par, noncumulative) 400,000
- Retained Earnings 776,000
- Treasury Stock-Common (8,000 shares) 88,000
- Cmplete the stockholders’ equity section at December 31, 2011.
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- Compute the book value per share of the common stock, assuming the preferred stock has a call price of $110 per share.
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