Shown below is information relating to the stockholders' equity of Silver Inc. at December 31, 20XX

10% cumulative preferred stock, $150 par $900,000

Common stock, $6.50 par, 500,000 shares authorized $2,600,000

Paid-in capital in Excess of Par: common stock $132,000

Retained earnings $1,551,000

Dividends in arrears on preferred stock, 1 full year `1.What is silvers total legal capital? 2.What is the total amount of Silver's Contributed capital? 3,What is the number of shares of common stock & issued and outstanding? 4. Show the journal entry required when common stock was issued. 5.What was the average issue price per share of Silver's common stock? 6.If the company declared dividends of $300,000 for the current year, how much will go to the common stockholders? 7.If the company delcares dividends of $300,000 for the current year, how much will go to the preferred stockholder?