5. The following owners’ equity section of a firm’s balance sheet relates to the current year (end-of-year data): 8%, $100 par cumulative preferred stock $10,000 $5 par common stock 40,000 Contributed capital in excess of par-preferred 5,000 Contributed capital in excess of par-common stock 20,000 Retained earnings 60,000 Treasury stock (10,000) Total owner’s equity $125,000 How many common shares are issued? 

a. 8,000 

b. 6,000 

c. 7,000 

d. Insufficient information