Zion Products Company reported the following stockholders€™ equity on its balance sheet:

Requirements
1. What caused Zion€™s preferred stock to decrease during 2015? Cite all possible causes.
2. What caused Zion€™s common stock to increase during 2015? Identify all possible causes.
3. How many shares of Zion€™s common stock were outstanding at December 31, 2015?
4. Zion€™s net income during 2015 was $1,350 million. How much were Zion€™s dividends during the year?
5. During 2015, Zion sold no treasury stock. What average price per share did Zion pay for the treasury stock that the company purchased during theyear?

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A1 Stockholders' Equity Dollars and shares in millions) Convertible preferred stock-$1.00 par value; authorized 70 shares; December 31, 2015 2014 3 issued and outstanding: 2015 and 2014-8 and 16 shares, respectively Common stock-$5 per share par value; authorized 16 1,100 shares; issued: 2015 and 2014-500 and 400 shares, respectively 2,500 2,800 6,185 2,000 1,950 5,086 Additional paid-in capital Retained earnings 10 Treasury stock, common-at cost 11 2015-23 shares; 2014-8 shares 12 Total stockholders' equity 13 Total liabilities and stockholders' equity 307 (121) $ 51,323 $47,202