The following information is from the December 31, 2018 balance sheet of Millner Corporation. Preferred Stock, $100 par $500,000 Paidminus−In Capital in Excess of Parlong dash—Preferred 44,000 Common Stock, $1 par 170,000 Paidminus−In Capital in Excess of Parlong dash—Common 510,000 Retained Earnings 191,500 Total Stockholders' Equity $1,415,500. What was the average issue price of the common stock shares? (Round your answer to the nearest cent.)

A. $1.88 

B. $2.68 

C. $3.68 

D. $1.00

Answer rating: 100% (QA)

Answer Calculation of average issue price of common stock Overall issue amount of ... View the full answer