Critical I hinking Problem 20.1 Understanding Stockholders' Equity Just after its formation on September 1, 20X1, the ledger accounts of Ducks, Inc., contained the following balances: INSTRUCTIONS 1. Answer the following questions: a. How many shares of common stock are outstanding? b. How many shares of common stock are subscribed? c. How many shares of preferred stock are outstanding? d. How many shares of preferred stock are subscribed? e. At what average price has common stock been subscribed or issued? f. Assume that no dividends are paid in the flrst year of the corporation's existence. What are the rights of the preferred stockholders? stock subscribed? 2. Prepare a classiffed balance sheet for the corporation just after its formation on September 1, 20X1. Analyze: What is the current ratio for the corporation at September 1, 20X1