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What is the average issue price of the preferred stock

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Reference no: EM132089045

Question - The following information is from the December 31, 2017 balance sheet of Jackson Corporation.

Preferred Stock, $100 par - $300000

Paid-in capital in excess of par-Preferred - $17000

Common Stock, $1par - $76000

Paid-in Capital in excess of par-Common - $203000

Retained Earnings - $55600

Total StockHolder's Equity - $651600

What is the average issue price of the preferred stock shares? (Round answers to the nearest dollar.).

Reference no: EM132089045

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