Microso Edge Download Shortcu GroupM T Microsof Teams O Outlook Play Wizard10 |||| 1 A E11.11 (LO 2, 4), C The stockholders' equity section of Lachlin Corporation's balance sheet at December 31 is presented here. Stockholders' equity Paid-in capital Lachlin Corporation Balance Sheet (partial) Preferred stock, cumulative, 10,000 shares authorized, 6,000 shares issued and outstanding Common stock, no par, 750,000 shares authorized, 580,000 shares issued Total paid-in capital Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (6,000 common shares) Total stockholders' equil. 'I $ 600,000 2,900,000 3,500,000 1,158,000 4,658,000 32,000 $4,626,000 Instructions From a review of the stockholders' equity section, answer the following questions. a. How many shares of common stock are outstanding? b. Assuming there is a stated value, what is the stated value of the common stock? c. What is the par value of the preferred stock