Bier Corp. issued 400,000 shares of common stock when It began operations in Year 1 and issued an additional 200,000 shares in Year 2. Bier also issued preferred stock convertible to 200,000 shares of common stock. In Year 3, Bier purchased 150,000 shares of Its common stock and held it in treasury. At the end of Year 3, how many shares of Bier's common stock were outstanding? 800,000 650,000 600,000 450,000 The preemptive right of shareholders Is the right to Share equally in dividend distributions. Purchase shares of stock on a pro rata basis when new Issues are offered for sale. Share in the distribution of assets on liquidation of the corporation. Participate in the management of the corporation. On February 1, Lopez Corporation issued 1,000 shares of its $10 par common and 2,000 shares of Its $10 par convertible preferred stock for a lump sum of $40,000. At this date, Lopez's common stock was selling for per share and the convertible preferred stock for per share. The amount of proceeds allocated to Lopez's preferred stock should be $22,000 $24,000 $27,000 $30,000 On December 1, Year 3, shares of authorized common stock were issued on a subscription basis at a price in excess of par value. A total of 20% of the subscription price of each share was collected as a down payment on December 1, Year 3, with the remaining 80 % of the subscription price of each share due in Year 4. Collectibility was reasonably assured. At December 31, Year 3, the equity section of the balance sheet should report additional paid-in capital for the excess of the subscription price over the par value of the shares of common stock subscribed and Common stock issued for 20% of the par value of the shares of common stock subscribed. Common stock issued for the par value of the shares of common stock subscribed. Common stock subscribed for 80% of the par value of the shares of common stock subscribed. Common stock subscribed for the par value of the shares of common stock subscribed