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 $5 Preferred shares, cumulative, 9,000 authorized, 5,000 shares issued $650,000 Common shares, 730,000 authorized, 540,000 shares issued 2,268,000 Contributed surplus 94,000 Total contributed capital 3,012,000 Retained earnings 1,167,000 Total shareholders' equity $4,179,000 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 $14,000 were in arrears on preferred shares, what would be the balance reported for retained earnings? Retained earnings balance