The stockholders' equity section of Nadia Fashion's balance sheet is presented here. Nadia Fashion Balance Sheet (in thousands of dollars, except par value) Stockholders' equity: Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity $50,000 $25,000 120,000 195,000 140,000 (20,900) $314,100 Based on the stockholders' equity section of Nadia Fashions balance sheet, answer the following questions. Remember that all amounts are presented in thousands, except per share value. Required: 1. How many shares of preferred stock have been issued? 2. How many shares of common stock have been issued? 3. Assuming the preferred shares were issued at par value, at what average price per share were the common shares issued? 4. If retained earnings at the beginning of the period was $120 million and net income during the year was $30 million, how much was declared dividends for the year