1. Shareholders' equity can be calculated by adding the items of?
(1) preferred stock
(2) common stock at par
(3) additional paid-in capital
(4) (cumulative) retained earnings
2. Please show all steps in the following problem: What is the present value of $6,000 to be received at the end of eight periods, assuming the first payment occurs at the end of the fourth year and an interest rate of 10%. Please make sure to show each step clearly.