Question

Lisa Laskowski Company reports the following information at the fiscal year end of December​ 31, 2017:Common​ Stock, $0.10 par value per share $88 million​Paid-in Capital in Excess of​ Par Common $500 millionRetained Earnings $700 millionTotal​ Stockholders' Equity $1,288 millionWhat was the average selling price for the common stock​ issued? (Round your final answer to the nearest​ cent.)A. $0.57 per share.B.$0.80 per share.C.$0.10 per share.D. $0.67 per share.

Answer 1

Aveerage selling of common stock is $0.67 per share

Step-by-step explanation:

GIVEN DATA:

Common stock - par value is $0.10/ share

Retained earning is $700 million

common stock $88 million

paid in capital = $500

sum of stock holder equity $1288 million

Total capital paid is = (88 + 500) million = $588 million

therefore

Average selling price is
`= (588)/(880) = $0.67`per share

where
`[ (88)/(0.1) = 880]`

So, Aveerage selling of common stock is $0.67 per share