Crogan Products Company reported the following stockholders' equity on its balance sheet:

Requirements
1. What caused Crogan's preferred stock to decrease during 2017? Cite all possible causes.
2. What caused Crogan's common stock to increase during 2017? Identify all possible causes.
3. How many shares of Crogan's common stock were outstanding at December 31, 2017?
4. Crogan's net income during 2017 was $1,430 million. How much were Crogan's dividends during the year?
5. During 2017, Crogan sold no treasury stock. What average price per share did Crogan pay for the treasury stock that the company purchased during the year?

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A1 December 31, 2017 2016 Stockholders' Equity (Dollars and shares in millions except for par value) 2 Convertible preferred stock- $2.50 par value: authorized 70 shares; 3 issued and outstanding 4 2017 and 2016-6 and 12 shares, respectively 5 Common stock- $3.00 per share par value; authorized 61,300 shares; issued: 2017 and 2016-300 7 and 200 shares, respectively 8 Additional paid-in capital 9 Retained earnings 10 Treasury stock, common-at cost 11 2017-57 shares; 2016-12 shares 12 Total stockholders' equity 13 Total liabilities and stockholders' equity 14 $ 15 S 30 600 655 6,300 5,075 900 1,200 (1254)(228) 6,132 47686 $ 44.932 7161