Reference no: EM132713136

Stockholders' Equity:Preferred stock ($100 par) $300,000

Common stock ($0.05 par) 12,500

Additional Paid in capital 2,490,500

Total paid in capital 2,803,000

Retained earnings 750,000

Treasury stock (5,000 common shares) (70,000)

Total stockholders' equity $3,483,000

Problem 1: If the common shares were issued at $10 per share, at what average price per share were the preferred shares issued?