E13-7 Finding Amounts Missing from the Stockholders’ Equity Section The Stockholders’ Equity section on the December 31, 2009, balance sheet of Chemfast Corporation follows:

Required: Complete the following statements and show your computations. 1. The number of shares of preferred stock issued was . 2. The number of shares of preferred stock outstanding was . 3. The average sales price of the preferred stock when issued was $ per share. 4. The average issue price of the common stock was $ . 5. The treasury stock transaction increased (decreased) stockholders’ equity by . 6. How much did the treasury stock cost per share? $ . 7. Total stockholders’ equity is $ .

Stockholders' Equity Contributed capital Preferred stock (par $20; authorized 10,000 shares, ? issued, of which 500 shares are held as treasury stock) $104,000 Additional paid-in capital, preferred 14,300 Common stock (no par; authorized 20,000 shares, issued and outstanding 8,000 shares) 600,000 Retained earnings 30,000 Cost of 500 shares of preferred treasury stock 9,500