The Torre Company has the following stockholders' equity account balances in stockholders' equity on December 31. Common Stock $5 par, 60,000 shares issued Paid-In Capital in Excess of Par-Common Stock $300,000 600,000 Preferred Stock - $100 par, 5,000 shares issued Paid-in Capital in Excess of Par-Preferred Retained Earnings 500,000 100,000 200,000 60,000 Treasury Stock (cost - $12 per share) 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? 72,000 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