V R Take Test: CH 13 - 2022 Spring Te x + u/webapps/assessment/take/launch.jsp?course_assessment_id=_2174007_1&course_id=_2123843_1&content_id=_65475273_1&step=null Question Completion Status: Question 1 30 points Save The following details and account balances are provided for the equity section of a balance sheet. . Preferred stock, $75 par value, 10,000 shares authorized, for $300,000 Common stock, no par, 700,000 shares authorized, 400,000 shares issued for $1,200,000 Treasury stocks amounted to $75,000 at a cost of $3 per share . Retained earnings amount to $800,000 With these information, answer the following questions: The number of preferred stock issued and outstanding is 4000 Common stock will have a state value of $ 3 and the outstanding number of common stock is 375000 Total stockholder's equity will have a balance of $ 2075000 If this entity decides to sell some of the 5,000 shares of treasury stocks when the price has changed by 100%, then the journal entry will debit or credit for $ 15000 debit or credit for $ 15000 and debit or credit 30000 $ 30000 to PIC account. The balance in the treasury stock account after this transaction will be $ 60000 Also, if a quarter of the remaining un-issued share were issued at the prevailing price, common stock account will increase, decrease, or not change by $ 900000 Click Submit to complete this assessment. Question Save and Submit O 20 42 F Partly cloudy 144 DII 112 prt sc delete home % & 5 backspace num lock P