Question
The stockholders' equity section of the balance sheet of Carmon Corporation at December 31, appears as follows: Stockholders' Equity $2 Cumulative preferred stock, $100 par;
The stockholders' equity section of the balance sheet of Carmon Corporation at December 31, appears as follows:
Stockholders' Equity $2 Cumulative preferred stock, $100 par; authorized, 10,000 shares; issued and outstanding, 6,700 shares $ 670,000 Common stock, $1 par; authorized, 100,000 shares; issued and outstanding; ? shares 72,000 Additional Paid-in Capital: From issuance of preferred stock 165,000 From issuance of common stock 710,000 Total paid-in capital $ 1,617,000 Retained earnings 835,000 Total Stockholders' equity $ 2,452,000 How many shares of common stock are outstanding?
72,000 100,000 110,000 77,000
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