Answer

Question $5(1$ point$)$

Burton Inc. has two classes of stock, $7\%$$$100$ par cumulative Preferred Shares and $$1$ par Common

Shares. The equity section shows:

Common stock, $$1$ par value, $1,000,000$ shares authorized and $q,?q,$ shares

issued $q,$ $$895,000$

Paid in capital in excess of par value. $q,$ $$106,000$

How many shares of common are issued?