how does the book get the 850 and 38,000 shares outstanding answer?

1 Help Me Solve This Question Help B - Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes B - Mobile to issue 90,000 shares of 7%, $50 par value cumulative preferred stock and 170,000 shares of $2 par value common stock. During the first month, B - Mobile completed the following transactions: (Click the icon to view the transactions.) Read the requirements. Balance Sheet (Partial) October 31, 2018 Stockholders' Equity Paid-In Capital: Preferred Stock-7%, $50 Par Value; 90,000 shares authorized, 850 shares issued and outstanding $ 42,500 42,500 Paid-In Capital in Excess of Par-Preferred Common Stock-$2 Par Value; 170,000 shares authorized, 38,000 shares issued and outstanding 76,000 218,000 Paid-In Capital in Excess of Par-Common Total Paid-In Capital 379,000 Retained Earnings 77,000 $ 456,000 Total Stockholders' Equity This question is complete. Move your cursor over or tap the red arrows to see incorrect answers. All parts showing Close 1 Help Me Solve This Question Help B - Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes B - Mobile to issue 90,000 shares of 7%, $50 par value cumulative preferred stock and 170,000 shares of $2 par value common stock. During the first month, B - Mobile completed the following transactions: (Click the icon to view the transactions.) Read the requirements. Balance Sheet (Partial) October 31, 2018 Stockholders' Equity Paid-In Capital: Preferred Stock-7%, $50 Par Value; 90,000 shares authorized, 850 shares issued and outstanding $ 42,500 42,500 Paid-In Capital in Excess of Par-Preferred Common Stock-$2 Par Value; 170,000 shares authorized, 38,000 shares issued and outstanding 76,000 218,000 Paid-In Capital in Excess of Par-Common Total Paid-In Capital 379,000 Retained Earnings 77,000 $ 456,000 Total Stockholders' Equity This question is complete. Move your cursor over or tap the red arrows to see incorrect answers. All parts showing Close