Item 2: The December 31, 2024 balance sheet of Entity M showed the following: Treasury stock (9,000 shares common).................................................$ 99,000 Paid-in capital in excess of stated value common stock ..................... 1,600,000 9% preferred stock, $100 par value, cumulative, 30,000 shares authorized; 12,000 shares issued, ____? outstanding............................................................................$ 1,200,000 Common stock, $10 stated value, 500,000 shares authorized; 300,000 shares issued, ____? shares outstanding.......................... 3,000,000 Paid-in capital in excess of par value preferred stock ......................... 195,000 Retained earnings