Question 3.) (6 Points)

The charter of Easton Company says the company may issues 250,000 shares of Cumulative Preferred stock. Since the company was started

there were 150,000 Shares of $5 par value preferred stock sold/issued to the general public for an average price of $20 per share. At Dec. 31, 2024

the preferred stock can be purchased on the stock market for $30 per share. The Company bought back 30,000 shares of the preferred stock during 2024.

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a. The number of "Authorized" Preferred Stock shares is?

b. The number of "Issued" Preferred Stock shares is?

c. The number of "Outstanding" Preferred Stock shares is?

d. The number of Treasury Stock Preferred shares is?

Answer rating: 100% (QA)

Lets break down each part of the question a Number of Authorized Preferred Stock shares The authoriz... View the full answer