The stockholders’ equity section on the December 31, 2014, balance sheet of American Corporation follows:Required:Complete the following statements and show your computations.1. The number of shares of preferred stock issued was _____ .2. The number of shares of preferred stock outstanding was _____ .3. The average sale price of the preferred stock when issued was $ _____ per share.4. Have the treasury stock transactions ( a ) increased corporate resources or ( b ) decreased resources? _____ By how much? _____ .5. The treasury stock transactions increased (decreased) stockholders’ equity by _____ .6. How much did the treasury stock held cost per share? $ _____ .7. Total stockholders’ equity is $ _____ .8. The average issue price of the common stock was $ _____.
The stockholders equity section on the December 31 2014 balance