ACCT 2101 Fall 2014 BALE Lanthier's Heating & Air This company began business on June 1, 2019. The articles of incorporation authorize issuance of 10,000 shares of $2 par common stock and 5,000 shares of $8 par 6% cumulative preferred stock. 27. Refer to Lanthier's Heating & Air. What is the maximum amount that can be reported on the balance sheet for common stock and preferred stock, respectively, if all of the stock is issued? Common Stock Preferred Stock a. $20,000 $2,400 b. $20,000 $40,000 c. $10,000 $40,000 d. $10,000 $ 2,400 La Farge North America The following information relates to this company's stockholders' equity accounts: $700,000 160,000 15.000 $975,000 Common Stock, $7 par, 200,000 shares authorized Additional Paid-in Capital--Common Stock Retained Earnings Treasury Stock, 2,000 shares at cost Total Stockholders' Equity 28. Refer to LaFarge North America. How many shares of common stock are outstanding? a. 68,000 b. 78,000 c. 98,000 d. 100,000