C213 at fiscal year end - Study guides, Class notes & Summaries

C213 At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders' e C213 At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders' equity of $4,400,000. On FY 2018 year end, Somerset Corporation had Common Stock account of $1,050,000 of $10 par value common stock and Preferred Stock account of $100,000 of $100 par value. There was no treasury stock. The preferred stock was noncumulative and had a call price of $101. Use this information to dete...