Use the following to answer Questions 14 and 15: Dallas Corporation began operations on January 1st of the current year. On December 31st of the current year, at the end of its first year of operations, Dallas reported the following stockholders' equity section of its balance sheet: All stock was issued on January 1st and the Treasury Stock was purchased on October 1st. Dallas paid $35,000 in dividends on its preferred stock; no common stock dividends were paid. Stockholders Equity: Preferred 7% Stock, $100 Par Value $ 500,000 Common Stock, $2 Par Value 50,000 Paid in Capital in Excess of Par, Common Stock 350,000 Retained Earnings 450,000 Treasury Stock (1,000 common shares at cost) ___(50.000) Total Stockholders Equity $1,300,000 Question 14 4 pt: The total number of shares of common stock issued by Dallas during the year was: 24,000 shares 200,000 shares 50,000 shares 25.000 shares Question 15 Net income reported by Dallas for the current year was: $1,265,000 $450,000 $485.000 $415.000