w Blackboard EXCO Remaining Time: 2 hours, 14 minutes, 09 seconds. Pathp Question Completion Status: QUESTION 2 30 points Save On Lennox Company has been authorized to issue 100,000 shares of $3.00 par value, 7% preferred stock and 5,000,000 share of $.50 par value common stock December 31, 2020, the following accounts were found on the ledger Preferred Stock (non-cumulative) Paid-in Capital in Excess of Par-Pref Common Stock Paid-in Capital in excess of Par-Common Treasury Stock Pald-in Capital from Treasury Stock Retained Earnings $120.000 85.000 1 250 000 2 200.000 19.500 3.900 157000 During the year, several transactions involved stock Analyze the transactions below and answer the questions SHOW ALL COMPUATIONS a. Preferred stock was issued for Equipment having a sticker price of $940,000 160,000 preferred shares were issued for the equipment when the shares were selling in the market at $14, what was the implied market value of the equipment? b. If 13,000 shares of common stock are in the treasury on December 31, how much was paid per share to buy back those shares that were bought back in August (the only treasury stock purchase that has ever taken place) What transaction(s) can eliminate or reduce the account "Paid in Capital from Treasury Stock?" Be Specific d. How many shares of Common stock are issued and outstanding? e. How many shares of Preferred stock are issued? f If declared, what is the maxim amount of preferred dividend that could be declared this year? 9. Prepare in GOOD FORM the stockholders' equity section of Lennox's 2020 balance sheet Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and