Reference no: EM131640032

Problem - Stockholders equity Paid-in capital

Preferred stock, cumulative, 10,000 shares authorized,

6,000 shares issued and outstanding                                                             $ 600,000

Common Stock, no par, 750,000 shares authorized, 580,000 shares issued      2,900,000

Total paid-in capital                                                                                     3,500,000

Retained earnings                                                                                       1,158,000

Total paid-in capital and retained earnings                                                    4,658,000

Less: Treasury stock (6,000 common shares)                                               (32,000)

Total stockholders' equity                                                                           $4,626,000

1. How many shares of common stock are outstanding?

2. Assuming there is a stated value, what is the stated value of the common stock?