The shareholders' equity section of SANTIAGO CORP. on December 31, 20x1 appeared as follows: 6% Preference share, P60 par, 100,000 shares authorized Shares issued 3,000,000 Ordinary share, P20 stated value, 500,000 shares authorized, share issued and shares issued and outstanding outstanding 4,000,000 Share premium - preference share 150.000 Share premium - ordinary 300,000 Retained earnings 3,200,000 Total Shareholders' Equity ? How much is the legal capital? Answer pattern: 1,000,000 Question 52 2 pts TBT corporation purchased 10,000 shares of its P1 par ordinary shares at P10 and subsequently sold 7,000 shares at P20. What is the amount of gain realized from the sale that will be reported in the income statement? Answer pattern: 1,000 Question 53 2 pts The charter of corporation provides for the issuance of 100.000 shares of common stock. Assume that 40,000 shares were originally issued and 5,000 were subsequently reacquired. Outstanding shares would be? Answer pattern: 10,000