Balance Sheet Stockholders' equity: Preferred stock, $1 par value $ 5,000 Common stock, $1 par value 20,000 Additional paid-in capital 575,000 Total paid-in capital 600,000 Retained earnings 278,000 Treasury stock, 10,000 common shares - Total stockholders' equity $ 658,000 1. How many shares of preferred stock have been issued? Number of shares? 2 How many shares of common stock have been issued? Number of shares? 3. If the common shares were issued at $20 per share, at what price per share were the preferred shares issued? 4 If retained earnings at the beginning of the period was $240 million and $20 million was paid in dividends during the year, what was the net income for the year? 5 What was the average cost per share of the treasury stock acquired?