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	$	5,300
Common stock, $1 par value		23,000
Additional paid-in capital		728,600
Total paid-in capital		756,900
Retained earnings		281,000
Treasury stock, 10,000 common shares		(250,000	)
Total stockholders' equity	$	787,900

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 $23 per share, at what average price per share were the preferred shares issued?

4. If retained earnings at the beginning of the period was $243 million and $23 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?