The stockholders' equity section on the December 31, 2012, balance sheet of Chemfast Corporation reported the following amounts:
Contributed Capital
Preferred Stock (par $20; authorized 10,000 shares,? issued,
of which 1,000 shares are held as treasury stock) .................................. $104,000
Additional Paid-in Capital, Preferred ................................................... 14,300
Common Stock (no-par; authorized 20,000 shares, issued and
outstanding 6,000 shares) ............................................................... 600,000
Retained Earnings ........................................................................ 30,000
Treasury Stock, 1,000 Preferred shares at cost ........................................ 9,500
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 $ per share.
4. The average issue price of the common stock was $ .
5. The treasury stock transaction increased (decreased) stockholders' equity by .
6. The treasury stock cost $ per share.
7. Total stockholders' equity is $