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

Requirements
1. What caused Supremes preferred stock to decrease during 2011? Cite all possible causes.
2. What caused Supremes common stock to increase during 2011? Identify all possible causes.
3. How many shares of Supremes common stock were outstanding at December 31, 2011?
4. Supremes net income during 2011 was $1,475 million. How much were Supremes dividends during the year?
5. During 2011, Supreme sold no treasury stock. What average price per share did Supreme pay for the treasury stock the company purchased during theyear?

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Stockholders' Equity Dollars and shares in millions) December 31, 2011 2010 Preferred stock $1.50 par value; authorized 40 shares Convertible Preferred Stock; issued and outstanding: 12 24 2011 and 2010-8 and 16 shares, respectively. Common stock-$4 per share par value; authorized 1,200 shares; issued: 2011 and 2010-500 and 400 shares, respectively Additional paid-in capital Retained earni Treasury stock, common-at cost 2,000 2,750 6,300 1,600 2,000 5,025 201154 shares; 2010-14 share Total stockholders' equity Total liabilities and stockholders' equity (280) 8,369 $50,320 $47,215 (1,242)