Required (10 points total) Based on the stockholders' equity section of University Fashions, answer the following questions. Remember that all amounts are presented in thousands. ( 2 points each) 1. How many shares of preferred stock have been issued? 2. How many shares of common stock have been issued? 3. Assuming the preferred shares were issued at par value, at what average price per share were the common shares issued? 4. If 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?

2. The stockholders' equity section of University Fashions is presented here. University Fashions Balance Sheet (Stockholders' Equity Section) ($ in thousands) Stockholders' equity: Preferred stock, $50 par $50,000 value Common stock, $5 par value $25,000 Additional paid-in capital 120.000 Total paid-in capital 195,000 Retained earnings 140,000 Treasury stock (20,900) Total stockholders' equity $314.100 tal