18 The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, 7 issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred 15 $ 94,000 points 11,750 Common Stock (no-par: authorized 20,000 shares, issued and outstanding 5,500 522,500 25,000 (9,250) shares) Retained Earnings Treasury Stock, 1,000 Preferred shares at cost Assume that no shares of treasury stock have been sold in the past. Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.) Answer is complete but not entirely correct. 1. The number of shares of preferred stock issued was 4,700 2. The number of shares of preferred stock outstanding was 5,000 3. The average issue price of the preferred stock was $ 17.630 per share 4. The average issue price of the common stock was $ 050 5. The treasury stock transaction increased (decreased) stockholders' equity by $ 9,250 per 6. The treasury stock cost $ 9.25 share 7. Total stockholders' equity is $ 644,000