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Timberlake Corporation is a publicly owned company. The following information is taken from a recent balance sheet. Dollar amounts (except for per share amounts) are

Timberlake Corporation is a publicly owned company. The following information is taken from a recent balance sheet. Dollar amounts (except for per share amounts) are stated in thousands.

Stockholders Equity

10% cumulative preferred stock, $100 par value, 20,000 shares authorized

$ 50,000

Common stock, $2 par value, 300,000 shares authorized

160,000

Additional paid-in capital: common stock

1,120,000

Retained earnings

1,670,000

Total stockholders equity

$ 3,000,000

a. How many shares of preferred stock have been issued?

b. What is the total amount of annual dividends paid to preferred stockholders?

c. How many shares of common stock have been issued?

d. What is the average issuance price per share of common stock?

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