The shareholders' equity section of Sundberg Corporation's statement of financial position at December 31 is presented here. SUNDBERG CORPORATION Statement of Financial Position (partial) Shareholders equity Contributed capital $6 Preferred shares, cumulative, 10.000 authorized 8.000 shares issued $600,000 Common shares 760.000 authorized, 590,000 shares issued 2,065,000 Contributed surplus 99,000 Total contributed capital 2.764,000 Retained earnings 1.145,000 Total shareholders' equity $3,909,000 From your review of the shareholders' equity section above, answer the following questions. What is the average issue price of the common shares? (Round answer to 2 decimal places, eg. 15.25.) Average issue price of the common shares $ per share What is the average issue price of the preferred shares? Average issue price of the preferred shares $ per share Calculate the annual total dividend on preferred shares. Annual total dividend on preferred shares $ If dividends of $12,000 were in arrears on preferred shares, what would be the balance reported for retained earnings? Retained earnings balance $