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5. (Points: 3) The following information is from the balance sheet of Tudor Corporation as of December 31, 2010. Preferred stock, $100 par $ 500,000

5. (Points: 3) The following information is from the balance sheet of Tudor Corporation as of December 31, 2010. Preferred stock, $100 par $ 500,000 Paid-in capital in excess of par - preferred 35,000 Common stock, $1 par 190,000 Paid-in capital in excess of par - common 380,000 Retained earnings 131,500 Total stockholders' equity $1,236,500 Preferred stock, $100 par What was the average issue price of the common stock shares? a. $1.00 b. The average price cannot be determined from the information given. c. $1.90 d. $3.00

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