Amelia Corporation has the following information in its financial statement: 17 6% Cumulative preferred stock, $100 par value; authorized, issued, and outstanding, 5, 400 shares $ 540, 000 Common stock, $2 par value; authorized, 400,000 shares; issued and outstanding 320,000 shares 640, 000 8 02:06:00 Paid-in capital: Preferred 760, 000 Common 2, 560, 000 Retained earnings 2, 373, 400 How many shares of preferred stock are outstanding? Multiple Choice 5,400 shares 10,000 shares Next >