The equity section of Gannon Oilfield Corporation's balance sheet at December 31, 2019 is shown below.

Required

1. What is the average price received for each issued preferred share?

2. What is the average price received for each issued common share?

3. What is the total contributed capital of the company?

Preferred Shares Authorized 100 shares Issued and Outstanding - 64 Shares $3,456 Common Shares Authorized 2,000 Shares Issued and Outstanding - 800 Shares Retained Earnings 600