The stockholders equity section of Velcro World is presented here. VELCRO WORLD Balance Sheet… 1 answer below »

The stockholders equity section of Velcro World is presented here. VELCRO WORLD Balance Sheet (partial) ($ in thousands) Stockholders equity: Preferred stock, $1 par value ………………………….$ 5,000 Common stock, $1 par value………………………….. 20,000 Additional paid-in capital ……………………………575,000 Total paid-in capital …………………………………600,000 Retained earnings …………………………………….278,000 Treasury stock, 10,000 common shares …………….(220,000) Total stockholders equity …………………………$658,000 Required: Based on the stockholders equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands. 1. How many shares of preferred stock have been issued? 2. How many shares of common stock have been issued? 3. If the common shares were issued at $20 per share, at what price per share were the preferred shares issued? 4. If retained earnings at the beginning of the period was $240 million and $20 million was paid in dividends during the year, what was the net income for the year? 5. What was the average cost per share of the treasury stock acquired?

 

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