Shown below is information relating to the stockholders' equity of Clydesdale Corporation at December 31 , Year 1 . 4. cumulative preferred stock, $80 par value; authorized, 109,600 shares; issued and outstanding, 20,080 shares Common stock, $2.50 par value; authorized, 1,000,000 shares; issued 600,000 shares (of which 8,000 are held in treasury) Additional paid-in capital: Preferred Common Treasury stock (8,008 common shares) Retained earnings $1,699,699 Retained earnings The average issue price per share of the preferred stock was