VELCRO WORLD
Balance Sheet (partial)
($ and shares in thousands)
Stockholders' equity:
Preferred stock, $1 par value	$	4,900
Common stock, $1 par value		19,000
Additional paid-in capital		528,200
Total paid-in capital		552,100
Retained earnings		277,000
Treasury stock, 12,000 common shares		(252,000	)
Total stockholders' equity	$	577,100

1. If the common shares were issued at $19 per share, at what average price per share were the preferred shares issued?

2. If retained earnings at the beginning of the period was $239 million and $19 million was paid in dividends during the year, what was the net income for the year? (Enter your answer in million (i.e., 5,000,000 should be entered as 5).)

3. What was the average cost per share of the treasury stock acquired?