CHALLENGE EXERCISE 10 & 11 1. The stockholders' equity section of University Fashions is presented here | M CONTENT CHAP University Fashions Balance Sheet (Stockholders' Equity Section) S in thousands) Stockholders' equity: Pentarted stock. $50 par $50,000 value Common stock, S5 par value $25.000 Additional paid in capital 120.000 Total paid-in capital 195.000 Retained earnings 140,000 Treasury stock 120.900) Total stockholders' $314,100 equity rred determined to be Went costs should be successful AMON ent Required (10 points total) Based on the stockholders'uty section of University Fashions, answer the following questions. Remember that all amounts are presented in thousands. (2 points each) So0,000 ave been issued? 1. How many shares of preferred stock have been issued? Z, SOOC 2. How many shares of common stock have been issued? 125 000 2. Assuming the preferred shares were issued at par value, at what average price per share were the common shares issued? S **. It retained earnings at the beginning of the period was $120 million and net income during the year was $30 million how much was paid in dividends for the year? 5. If the treasury stock was reacquired at $20 per share and none were reissued, how many shares were reacquired