Remaining Time: 50 minutes, 50 seconds. Question Completion Status: Pathp Words 3 QUESTION 2 Lennox Company has been authorized to issue 50.000 shares of $500 par value, 7% preferred stock and 2,000,000 share of $ 25 par value common stock December 31, 2020, the following accounts were found on the ledger On Preferred Stock (non-cumulative) Pald-in Capital in Excess of Par-Pref Common Stock Pald-in Capital in Excess of Par.Common Treasury Stock Pald-in Capital from Treasury Stock Retained Earnings $120,000 35 000 1.250,000 2.200 000 19.000 1 900 97.000 During the year, several transactions involved stock Preferred to Analyze the transactions below and answer the questions. SHOW ALL COMPUATIONS During the year, several transactions involved stock Analyze the transactions below and answer the questions. SHOW ALL COMPUATIONS a. Preferred stock was issued for land having a fair value of $940,000 and a market value of $980,000 1F40,000 preferred shares were issued for the land, what was the market value of each share at that time? b. 19,500 shares of common stock are in the treasury on December 31; how much was paid per share to buy back those shares that were bought back in November (the only treasury stock purchase that has ever taken place) c. What transaction(s) brought about the account "Pald-in Capital from Treasury Stock?" Be Specific d. How many shares of Common stock are issued and outstanding? e. How many shares of Preferred stock are issued? f. What is the stated dividend per preferred share outstanding? g Prepare in GOOD FORM the stockholders' equity section of Lennox's 2020 balance sheet Click Save and Submit to save and submit. Click Save Al Answers to save all answers