Xcel Corporation's December 31, 2016 Balance Sheet showed the following: Common stock, $2 par value, 850,000 shares authorized; Paid-in capital in excess of par value - common Retained Earnings Treasury Stock (1,000 shares) 24,000 246,000 63,000 (32,000) Total Equity $301,000 1. How many shares have been issued? 2. How many shares are outstanding? 3. What was the average selling price per share of common stock? 4. How much did the company pay for each share of treasury stock? 5. If the company had retained earnings of $43,000 at 1/1/16 and declared a $17,000 cash dividend in 2016, what was the company's net income in 2016