he stockholders' equity section of the balance sheet of Xanadu Fashions, Inc., at December 31, 2010 appears as follows: Stockholders' equity: 7% preferred stock, $100 par, callable at S105, 50,000 shares authorized, 40,000 shares issued.. Common stock, $2 par, 600,000 shares authorized, 450,000 shares issued, of which 30,000 are held in treasury Additional paid-in capital: From issuance of preferred stock. From issuance of common stock. $4,000,000 640,000 1,890,000 60,000 From common stock dividends . $7,940,000 Total paid-in capital Retained earnings ($240,000 equal to cost of treasury stock is not available for dividends... . 3600,000 $11,540,000 Less: Treasury stock (at cost: 30,000 common shaes Total stockholders' equity $11,300,000 Answer the following questions based on the stockholders' equity section given above. The company purchased no treasury stock before 2010. 1 Refer to the above data. What was the average issue price per share of preferred stock? 2 Refer to the above data. How many shares of common stock are outstanding? 3 Refer to the above data. A small stock dividend of 20,000 shares was declared and distributed during 2010. What was the market price per share on the date of declaration? in 2010, compute the price per share for which the reissued treasury stock was sold. Refer to the above data. Assume all remaining treasury stock is reissued at a price of $24 per 4 Refer to the above data. If Xanadu Fashions had reacquired 35,000 shares of treasury stock early 5 share in January of 2011. Prepare the journal entry to record this transaction