Use the following information to answer questions 1-5. The Stockholder's Equity accounts of a corporation on January 1, 2017, were as follows: Preferred Stock (6%, $200 par, cumulative, 4,000 shares authorized) $470,000 Common Stock ($5 par, 1,000,000 shares authorized) 1,350,000 Additional Paid in Capital - Preferred 89,300 Additional Paid in Capital - Common 6,480,000 Retained Earnings 1,657,000 Treasury Stock- Common (7,000 shares) 126,000 During 2017, the corporation had the following transactions and events relating to its stockholders equity. Jan. 2 Issued 30,0000 shares of common stock in exchange for property. On this date the stock trading for $15 per share. was Issued 400 shares of preferred stock at $250 per share. Feb. 21 Sold 1,000 shares of treasury stock - common for $21 per share. Mar. 21 Nov. 14 Purchased 2,000 shares of common stock for the treasury at a cost of $22,000. Dec. 31 Determined that net income for the year was $318,000. Dividends were declared and paid during December. These dividends included a $0.25 per share dividend to common stockholders of record as of December 20. There are no dividends in arrears. As of Dec. 31, 2017, what is the average selling price of the preferred stock? |A. $225.00 B. $280.55 C $200.00 D. $239.75 E. $207.27 What is the Total Contributed Capital as of December 31, 2017? O A. 8,942,300 B. $10,811,300 C. $10,681,300 D. s 8,939,300 O E. 8,960,300