Question
Analysis of Stockholders' Equity The Stockholders' Equity section of the December 31, 2016, balance sheet of Eldon Company appeared as follows: Preferred stock, $50
Analysis of Stockholders' Equity The Stockholders' Equity section of the December 31, 2016, balance sheet of Eldon Company appeared as follows: Preferred stock, $50 par value, 5,000 shares authorized,? shares issued $250,000 Common stock, ? par, 10,000 shares authorized, 9,000 shares issued 90,000 Additional paid-in capital-Preferred 7,000 Additional paid-in capital-Common 720,000 Additional paid-in capital-Treasury stock 1,200 Total contributed capital $1,068,200 Retained earnings 50,000 Treasury stock, preferred, 200 shares (6,200) Total stockholders' equity $? Required: Determine the following items based on Eldon's balance sheet. Round all calculations except per- share amounts to the nearest whole number; round per-share amounts to the nearest cent. 1. The number of shares of preferred stock issued shares 2. The number of shares of preferred stock outstanding shares
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