Question 7 of 20 - / 8 TII View Policies Current Attempt in Progress The shareholders' equity section of Sundberg Corporation's statement of financial position at December 31 is presented here. SUNDBERG CORPORATION Statement of Financial Position (partial) Shareholders' equity Contributed capital $4 Preferred shares, cumulative, 10,000 authorized, 5,000 shares issued $700,000 Common shares, 790,000 authorized, 560,000 shares issued 2,492,000 Contributed surplus 109,000 Total contributed capital 3,301,000 Retained earnings 1,169,000 Total shareholders' equity $4,470,000 From your review of the shareholders' equity section above, answer the following questions. What is the average issue price of the common shares? (Round answer to 2 decimal places, e.g. 15.25.) Average issue price of the common shares $ per share What is the average issue price of the preferred shares? Average issue price of the preferred shares $ per share Calculate the annual total dividend on preferred shares. Annual total dividend on preferred shares $ If dividends of $18,000 were in arrears on preferred shares, what would be the balance reported for retained earnings? Retained earnings balance $