Parsons, Inc., is a publicly owned company. The following information is excerpted from a recent balance sheet. Dollar amounts $($except for per$-$share amounts$)$ are stated in thousands.Stockholders$$ equity:Convertible $$17\mathrm{.}20$ preferred stock, $$250$ par value, $1,000,000$ shares authorized; $345,000$ shares issued and outstanding$$86,250$Common stock, par value $$0\mathrm{.}50$; $25,000,000$ shares authorized$6,819$Additional paid$-$in capital$87,260$Retained earnings$57,263$Total stockholders$$ equity$$237,592$InstructionsFrom this information, answer the following questions:How many shares of common stock have been issued?What is the total amount of the annual dividends paid to preferred stockholders?What is the total amount of paid$-$in capital?What is the book value per share of common stock, assuming no dividends in arrears?Briefly explain the advantages and disadvantages to Parsons of being publicly owned rather than operating as a closely held corporation.What is meant by the term convertible used in the caption of the preferred stock? Is there any more information that investors need to know to evaluate this conversion feature?Assume that the preferred stock currently is selling at $$248$ per share. Does this provide a higher or lower dividend yield than an $8$ percent, $$50$ par value preferred with a market price of $$57$ per share? Show computations $($round to the nearest tenth of $1$ percent$).$ Explain why one preferred stock might yield less than another.