UCONN Group has the following items in its current balance sheet: Common Stock 5,000,000 shares authorized, 1,200,000 issued $6,000,000 Capital Surplus $3,600,000 Treasury Stock on Common 100,000 shares $1,320,000 Cumulative Preferred Stock 17,000,000 authorized {8%} $2 par $12,000,000 Retained Earnings $30,180,000 What was the average selling price of UCONN Group's preferred stock shares that are on the current balance sheet? If UCONN Group announces a 4 for 1 stock split of the cumulative preferred, then what is the new total amount of the preferred stock? If UCONN Group were to provide for a 10% common stock dividend, then how many new shares are to be mailed to existing shareholders? Assume in question [8] the market price of the common stock was $20 at the time of the stock dividend announcement. What is the journal entry to record the stock dividend? 10. Explain the concept of the reverse stock split