Quanto Products Company reported the following stockholders' equity on its balance sheet:

Requirements
1. What caused Quanto's preferred stock to decrease during 2017? Cite all possible causes.
2. What caused Quanto's common stock to increase during 2017? Identify all possible causes.
3. How many shares of Quanto's common stock were outstanding at December 31, 2017?
4. Quanto's net income during 2017 was $1,380 million. How much were Quanto's dividends during the year?
5. During 2017, Quanto sold no treasury stock. What average price per share did Quanto pay for the treasury stock that the company purchased during the year?

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A1 Stockholders' Equity 1(Dollars and shares in millions except for par value) 2 Convertible preferred stock-$1.00 par value; authorized 65 shares December 31 2017 2016 3 ssued and outstanding: 4 2017 and 2016-4 and 8 shares, respectively 5 Common stock $1.00 per share par value, authorizecd 6 1,500 shares; issued: 2017 and 2016-200 7 and 100 shares,respectively 8 Additional paid-in capital 9 Retained earnings 10 Treasury stock, common-at cost 11 2017-38 shares: 2016-8 shares 12 Total stockholders' equity 3 Total liabilities and stockholders' equity 14 100 700 278 6300 5,025 200 (874 6,330 (152) 5259