DeZurik Corporation had the following stockholders$$ equity section in its June $30,2022,$ balance sheet $($in thousands, except share and per share amounts$)$:

June $30($in thousands$)2022$

Paid$-$in capital:

$$5\mathrm{.}0$ Preferred stock, $ $?$ par value, cumulative, $60,000$ shares authorized, $24,000$ shares issued and outstanding $ $1,470$

Common stock, $$2$ par value, $4,000,000$ shares authorized, $850,000$ shares issued, $706,000$ shares outstanding

Additional paid$-$in capital on common stock $5,030$

Retained earnings

Less: Treasury common stock, at cost$,?$ shares

Total stockholders' equity $ $15,450$

Required:

Calculate the par value per share of preferred stock and determine the preferred stock dividend percentage.

Calculate the amount that should be shown on the balance sheet for common stock at June $30,2022.$

What was the average issue price of common stock shown on the June $30,2022,$ balance sheet?

How many shares of treasury stock does DeZurik Corporation own at June $30,2022?$

Assume that the treasury shares were purchased for $$17$ per share. Calculate the amount that should be shown on the balance sheet for treasury stock at June $30,2022.$

Calculate the retained earnings balance at June $30,2022,$ after you have completed parts a to e$.($Hint: Keep in mind that Treasury Stock is a contra account.$)$

Assume that the Retained Earnings balance on July $1,2021,$ was $$9,817,122($in thousands$)$ and that net income for the year ended June $30,2022,$ was $$878($in thousands$).$ The $2022$ preferred dividends were paid in full, and no other dividend transactions were recorded during the year. Verify that the amount shown in the solution to part f is correct. $($Hint: Prepare a statement of retained earnings or do a T$-$account analysis to determine the June $30,2022,$ balance.$)$