Assignment
Standward Company's shareholders' equity section balance sheet at December 31, 2016 is shown below. Preferred shares Authorized-100 shares Issued and outstanding-55 shares $2,145. Common shares Authorized-900 shares Issued and outstanding-600 shares $1,010. Retained earnings $450. Total shareholders' equity $3,605.
Required:
1. What is the average price received for each issued preferred share?
2. What is the average price received for each issued common share? NOTE: For this part 2 only around your answer to the nearest 2 decimal places.