Remaining Time: 1 hour, 14 minutes, 44 seconds. Question Completion Status: 6 8 10 11 12 13 14 15 16 17 18 19 201 Presented below is information from THE STOCKHOLDERS EQUITY SECTION of a BALANCE SHEET: Common Stock, $10 par $4,500,000 Paid-in Capital in Excess of Par-Common Stock Preferred 8 1/2 % Stock, $50 par Paid-in Capital in Excess of Par-Preferred Stock Retained Earnings Treasury Common Stock (at cost) Number of share of Treasury Stock $650,000 $3,000,000 $500,000 $2,000,000 $200,000 10,000 "Which of the following statements is true about Treasury Stock-Do not select all statements, wrong answers are penalized." The average cost of the Treasury Stock per share was $10.00 Treasury stock is classified as an Long Term Investment The cost of the Treasury Stock should be deducted from the balance of the Common Stock The average cost of the Treasury Stock per share was $20.00 The average cost of the Treasury Stock per share cannot be determined with the information provided. The cost of the Treasury Stock should be added to Stockholder's Equity The cost of the Treasury Stock should be deducted from Total Stockholder's Equity Treasury stock is a contra stockholder's equity account The total shares OUTSTANDING equals 450,000." "The total shares OUTSTANDING equals 440,000." "The total shares OUTSTANDING equals 460,000. MacBook Pro Conne