If stock is issued for less than par value, the account Paid-In Capital in Excess of Par is debited if a debit balance exists in the account. Retained Earnings is credited. Paid-In Capital in Excess of Par is credited. Paid-In Capital in Excess of Par is debited if a credit balance exists in the account. A corporation has the following account balances: Common stock, $1 par value, $49000; Paid-in Capital in Excess of Par, $800000. Based on this information, the number of shares issued is 49000 . legal capital is $849000. average price per share issued is $5.91. number of shares outstanding is 849000 . Treasury stock is stock issued by the U.S. Treasury Department. stock purchased by a corporation and held as an asset. corporate stock issued by the treasurer of a company. a corporation's own stock which has been issued and subsequently reacquired but not retired. Sheffield, Inc. has 10200 shares of 6%,$100 par value, noncumulative preferred stock and 102000 shares of $1 par value common stock outstanding at December 31, 2019, and December 31, 2020. The board of directors declared and paid a $49600 dividend in 2019. In 2020, \$109100 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2020 ? Preferred Common $0$109100 $54550$54550 $61200$47900 $52900$56200 The purchase of treasury stock decreases common stock authorized. decreases common stock outstanding. has no effect on common stock outstanding. decreases common stock issued