D Question 16 ABC Corp. was organized on Jan 1, Year 1. It was authorized to issue 100,000 shares of $1 par common stock and 20.000 shares of $10 par, 3% cumulative preferred stock. ABC Corp issued the following shares of stock during Year 1: 1. 50,000 shares of common stock for $8 per share 2. 2,000 shares of preferred stock for $25 per share. What is the value of ABC Corp's Preferred Stock Account on its Year 1 Balance Sheet? $20,000 $30,000 $50,000 $1,500 Reminder: please tear up y Question 15 Which one of the following equations is accruate? Outstanding Shares Treasury Shares - Issued Shares Outstanding Shares - Treasury Shares - Authorized Shares Authorized Shares - Treasury Shares - Outstanding Shares Issued Shares Treasury Shares - Outstanding Shares 0 < Previous 1 Not saved