The stockholders\' equity section of Velcro World is presented here. Based on th

Question

The stockholders' equity section of Velcro World is presented here.

Based on the stockholders' equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands.

1. If the common shares were issued at $17 per share, at what price per share were the preferred shares issued?

2. If retained earnings at the beginning of the period was $234 million and $19 million was paid in dividends during the year, what was the net income for the year?

3. What was the average cost per share of the treasury stock acquired?

PLEASE SHOW CALCULATIONS

VELCRO WORLD
Balance Sheet (partial)   ($ in thousands)   Stockholders' equity:   Preferred stock, $1 par value $ 5,800      Common stock, $1 par value 13,000      Additional paid-in capital 589,000           Total paid-in capital 607,800      Retained earnings 282,000      Treasury stock, 11,000 common shares (154,000)        Total stockholders' equity $ 735,800   

Explanation / Answer

The stockholders' equity section of Velcro World is presented here. Based on th

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