Question: please explain how to find the anwser in your responeses thank you!! The stockholders' equity section on the December 31, balance sheet of Rockline Corporation
The stockholders' equity section on the December 31, balance sheet of Rockline Corporation reported the following amounts: Contributed Capital Preferred Stock (par $25; authorized 5,000 shares,? Issued, of which 700 shares are held as treasury stock) Additional Paid-in Capital, Preferred Common Stock (no-par; authorized 10,000 shares, issued and outstanding 4,100 shares) Retained Earnings Treasury Stock, 700 Preferred shares at cost Assume that no shares of treasury stock have been sold in the past. 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 issue price of the preferred stock was $ 4. The average issue price of the common stock was $. per share. 5. The treasury stock transaction increased (decreased) stockholders' equity by $120,000 7,800 100,000 30,000 (7,700) 6. The treasury stock cost $. per share. 7. Total stockholders' equity is $
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