Saved rong CONT 3105-1st Sem. 2020-2021 0 PLEASE USE THE FOLLOWING INFORMATION TO ANSWER THE QUESTION ABC, Inc. State of Shareholders' Equity As of October 31, 2020 $ 1,000,000 1,000,000 7% Preferred Stock: $ 100 par value; 100,000 authorized shares of which there are 10,000 shares issued and in circulation I Common Stocks: $ 10 par value; 500,000 shares of which there are 100,000 shares issued and 90,000 outstanding Contributed Capital in Excess of Par Value- Shares Commons Retained earnings Portfolio Shares - Common Total shareholders' equity 200,000 3,000,000 (200,000) $ 5,000,000 If we examine the equity section of ABC, Inc. we can say that the company: Multiple Choice (Prev 8 of 52 Next > Saved Samen CONT 3105- 1st Sem. 2020-2021 Total shareholders' equity $ 5,000,000 If we examine the equity section of ABC, Inc. we can say that the company: Multiple Choice repurchased part of their shares. that preferred shareholders bought their shares above their par value. that all of its common shares were sold below par value. that the company has a lot of cash