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The stockholders' equity section of Sarasota Corp.'s balance sheet at December 31 is presented here. SARASOTA CORP. Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred
The stockholders' equity section of Sarasota Corp.'s balance sheet at December 31 is presented here. SARASOTA CORP. Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,900 shares authorized, 6,500 shares issued and outstanding $663,000 Common stock, no par, 734,000 shares authorized, 564,000 shares issued 1,692,000 Total paid-in capital Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (7,800 common shares) Total stockholders' equity 2,355,000 1,180,000 3,535,000 41,600 $3,493,400 From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? Common stock outstanding shares
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