Shown below is information relating to the stockholders equity of Reef Corporation as of December 31, 2001 (Use for questions 16-20) 12% cumulative preferred stock $100 par, callable at $108 $300.000 Common Stock, $10 par, 5000,000 shares authorized, 60,000 shares issued and outstanding 600.000 Additional pald-in capital. common stock 400 000 Deficit (negative retained earnings) 50,000 Refer to the above data. How many shares of preferred stock are issued and outstanding? 3,000 shares 0 2.778 shares O 2.950 shares 0 3.200 shares