Required information {The following information applies to the questions displayed below.) The stockholders' equity section of Velcro World is presented here. VELCRO WORLD Balance Sheet (partial) ($ and shares in thousands) Stockholders' equity Preferred stock, $1 par value Common stock, $1 par value Additional paid in capital Total paid-in capital Retained earnings Treasury stock, 12,000 common shares Total stockholders' equity $ 5,800 28,000 1,028,600 1,062,400 286,000 (360,000) $ 988,400 Based on the stockholders' equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands. 4. If retained earnings at the beginning of the period was $248 million and $28 million was paid in dividends during the year, what was the net income for the year? (Enter your answer in million (i.e., 5,000,000 should be entered as 5).) Net income million Required information [The following information applies to the questions displayed below.) The stockholders' equity section of Velcro World is presented here. VELCRO WORLD Balance Sheet (partial) ($ and shares in thousands ) Stockholders' equity! Preferred stock, $1 par value Common stock, $1 par value Additional paid in capital Total paid-in capital Retained earnings Treasury stock, 12,000 common shares Total stockholders' equity $ 5,800 28,000 1,028,600 1,062,400 286,000 (360,000) $ 988,400 Based on the stockholders' equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands. 5. What was the average cost per share of the treasury stock acquired? Average cost per share Required information [The following information applies to the questions displayed below.) The stockholders' equity section of Velcro World is presented here. VELCRO WORLD Balance Sheet (partial) ($ and shares in thousands) Stockholders' equity Preferred stock, $1 par value Common stock, $1 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock, 12,000 common shares Total stockholders' equity $ 5,800 28,000 1,028,600 1,062,400 286,000 (360,000) $ 988,400 Based on the stockholders' equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands. 3. If the common shares were issued at $28 per share, at what average price per share were the preferred shares issued? Answer is complete but not entirely correct. Preferred shares issued price $ 756.000.000 per share