The stockholders equity section of leyland corporations

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The stockholders' equity section of Leyland Corporation's balance sheet at December 31 is presented here.

LEYLAND CORPORATION
Balance Sheet (partial)
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


(a) How many shares of common stock are outstanding?

Reference no: EM13568089

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