The Torre Company has the following stockholders' equity account balances in stockholders equity on December 31.

Common Stock $5 par, 60,000 shared issued $300,000

PaidIn Capital in Excess of ParCommon Stock 600,000

Preferred stock $100 par, 5,000 shares issued 500,000

PaidIn Capital in Excess of ParPreferred 100,000

Retained Earnings 200,000

Treasury Stock (cost $12 per share) 60,000

Answer the following questions:

1. How many shares of treasury stock are owned?

______ shares

2. What was the average market price per share at which common stock was issued? If required, round your answer to two decimal places.

$ ______ per share

3. What was the average market price per share at which preferred stock was issued? If required, round your answer to two decimal places.

$________ per share

4. What is the total value of the paid-in capital portion of stockholders' equity?

$_________

5. What is the total value of stockholders' equity?

$__________

6. How many shares of common stock are outstanding?

$_______shares

7. If net income for the year was $75,000 and a preferred stock dividend of $20,000 was paid, what was the beginning value of retained earnings? How much is earnings per share for the year? If required, round your answer to two decimal places.

Beginning value of retained earnings $ ______

Earnings per share $ _____