The stockholders equity section of Velcro World is presented here.

VELCRO WORLD
Balance Sheet (partial)
($ and shares in thousands)
Stockholders' equity:
Preferred stock, $1 par value	$	4,200
Common stock, $1 par value		12,000
Additional paid-in capital		262,200
Total paid-in capital		278,400
Retained earnings		270,000
Treasury stock, 10,000 common shares		(140,000	)
Total stockholders' equity	$	408,400

Based on the stockholders' equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands.

Required:

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

2. How many shares of common stock have been issued? (Enter you answer in total number of shares, not in thousands.)

3. If the common shares were issued at $12 per share, at what average price per share were the preferred shares issued?

4. If retained earnings at the beginning of the period was $232 million and $12 million was paid in dividends during the year, what was the net income for the year? (Enter your answer in million (i.e., 5,000,000 should be entered as 5).)

5. What was the average cost per share of the treasury stock acquired?