The stockholders equity section of The Seventies Shop is presented here.

THE SEVENTIES SHOP
Balance Sheet (partial)
($ in thousands)
Stockholders' equity:
Preferred stock, $50 par value	$0
Common stock, $5 par value	16,000
Additional paid-in capital	54,400
Total paid-in capital	70,400
Retained earnings	49,000
Treasury stock	(2,900)
Total stockholders' equity	$116,500

Based on the stockholders equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands.

Required:

1. How many shares of preferred stock have been issued? (Enter your answer in total number of shares, not in thousands.)