1. Shown below is information relating to the stockholders' equity of Reeve Corporation as of December 31, Year 1:

3.0% cumulative preferred stock, $100 par value; authorized, ?? shares; issued and outstanding, ?? shares	$ 800,000
Common stock, $10 par value; authorized, 320,000 shares; issued and outstanding, 132,000 shares	1,320,000
Additional paid-in capital: Common stock	924,000
Retained earnings (Deficit)	(66,000)
Dividends in arrears	24,000

How many shares of preferred stock are issued and outstanding?

80,000 shares

32,000 shares

13,200 shares

8,000 shares

2. Shown below is information relating to the stockholders' equity of Reeve Corporation as of December 31, Year 1:

6.0% cumulative preferred stock, $100 par value; authorized, ?? shares; issued and outstanding, ?? shares	$ 2,300,000
Common stock, $10 par value; authorized, 620,000 shares; issued and outstanding, 192,000 shares	1,920,000
Additional paid-in capital: Common stock	192,000
Retained earnings (Deficit)	(96,000)
Dividends in arrears	138,000

What was the original issue price per share of common stock?

• 3.41 per share

• $10.00 per share

• $3.10 per share

• $11.00 per share

3.Shown below is information relating to the stockholders' equity of Reeve Corporation as of December 31, Year 1:

4.5% cumulative preferred stock, $100 par value; authorized, ?? shares; issued and outstanding, ?? shares	$ 1,100,000
Common stock, $10 par value; authorized, 380,000 shares; issued and outstanding, 144,000 shares	1,440,000
Additional paid-in capital: Common stock	288,000
Retained earnings (Deficit)	(72,000)
Dividends in arrears	49,500

Total stockholders' equity is:

• $2,756,000.

• $2,900,000.

• $2,828,000.

• $2,706,500.