SU 16: Derivatives, Hedging, and Other topics

16.1. Maga Corp’s equity at December 31, Yeat 4, included the following: 6% cumulative preferred stock, $100 par; liquidating value $110 per share; authorized, issued, and outstanding 50,000 shares $5,000,000 Common stock, $5 par; 1,000,000 shares authorized; issued and outstanding 400,000 shares 2,000,000 Retained earnings 1,000,000 Dividends on preferred stock have been paid through Year 3 but have not been declared for Year 4. At December 31, Year 4, Maga’s book value per common share was.

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