1. What caused Main Streets preferred stock to decrease during 2016? Cite all possible causes.

2. What caused Main Streets common stock to increase during 2016? Identify all possible causes.

3. How many shares of Main Streets common stock were outstanding at December 31, 2016?

4. Main Streets net income during 2016 was $1,350 million. How much were Main Streets dividends during the year?

5. During 2016, Main Street sold no treasury stock. What average price per share did Main Street pay for the treasury stock that the company purchased during the year?

Exercise 6 Analvze Transactions from a Company's Comparative Stockholders' Equi Main Street Company reported the following stockholder's equity on its balance sheet: Stockholders' Equity (Dollars and shares in millions) Convertible preferred stock $1.00 par value; authorized 70 shares; December 31, 2016 2015 issued and outstanding 2016 and 2015 - 8and 16 shares, respectively 8 $ 16 Common stock - 55 per share par value; authorized 1,100 shares; issued 2016 and 2015- 500 and 400 shares, respectively Additional paid-in capital Retained earnings Treasury stock, common at cost 2,500 2,000 2,8001,950 6,185 5,086 2016 23 shares: 2015 8 shares 121 8,931 Total stockholders' equity 11,186 Total liabilities and stockholders' equity 51,323 $47,202 Requirements 1. 2. 3. 4. What caused Main Street's preferred stock to decrease during 2016? Cite all possible causes. What caused Main Street's common stock to increase during 2016? Identify all possible causes. How many shares of Main Street's common stock were outstanding at December 31, 2016? Main Street's net income during 2016 was $1,350 million. How much were Main Street's dividends during the year? During 2016, Main Street sold no treasury stock. What average price per share did Main Street pay for the treasury stock that the company purchased during the year? 5