1. Edwards Enterprises reported the following information at December 31:

Preferred Stock, $5 par, 10,000 shares authorized	$ 71,000
Additional paid-in capital preferred stock	19,800
Common stock, $1par, 12,000 shares authorized	7,200
Additional paid-in capital common stock	17,400
Retained earnings	34,000
Treasury stock, at cost of $4 per share	(8,000)
Total	$141,400

How many shares of common stock are outstanding?

1. 5,000
2. 5,200
3. 10,000
4. 6,200
5. 7,200