Response to the following problem:
The shareholders' equity section of Gannon Oilfield Corporation's balance sheet at December 31, 2016 is shown below.
Preferred shares
Authorized-100 shares
Issued and outstanding-64 shares $3,456
Common shares
Authorized-2,000 shares
Issued and outstanding-800 shares 1,680
Retained earnings 600
Total shareholders' equity $5,736
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?
3. What is the total stated capital of the company?