1. Presented below is the information related to Colorado Corporation:

Common Stock, $5 par, 200,000 shares issued and outstanding

Paid-in-Capital in Excess of ParCommon Stock $3 per share

Preferred 6% Stock, $50 par, 100,000 shares issued and outstanding

Paid-in-Capital in Excess of ParPreferred Stock $5 per share

Retained Earnings $600,000

Accumulated loss from comprehensive income $50,000

The total stockholders equity of Colorado Corporation is?

2. Red Company issued 100,000 shares of $10 par common stock. Three months later Red acquired 7,000 shares of its own common stock at $12 per share. Six months later Red sold 4,000 of these shares at $16 per share. If the cost method is used to record treasury stock transactions, to record the sale of the 4,000 treasury shares, Red should credit Treasury Stock at?