Given the following excerpt from the general ledger, how can we calculate the average issue price of common stock? (Answer is 12.36)

3. Additional Paid in capital (APIC) is the same as Paid in capital in Excess of Par (PICIEP) 1. When Lauren Company was formed on January 1, 20x1, it received authorization to issu 60,000 shares of $5 par value common stock. On January 15, 20x1, it issued 25,000 shares at $21 per share. Lauren's journal entry to record these facts should include a CO Sh 52500 credit to Common Stock for $60,000. credit to Paid-in Capital in Excess of Par for $400,000. debit to Cash for $500,000. APIC all of the above. Questions 2-4 use some of the following account balances taken from the general ledger of Jan Company as of March 31, 20x1: 34,000 Cash Common Stock, $10 par 2,750,000 231,000 Retained Earnings 55,000 Paid-in Capital in Excess of Par Preferred 22,000 Dividends Payable 500,000 Preferred Stock, $10 par Paid-in Capital in Excess of Par-Common 650,000 50,000 Treasury Stock 2,2. The average issue price of a share of Jana's common stock is A. $10.00 $12.36 D. some other amount B. $11.25 r san tal as of March 31 20x1 is