# Required information [The following information applies to the questions displayed below.] The stockholders' equity section of Velcro World is presented here. VELCRO WORLD Balance Sheet (partial) in thousands) ($and share Stockholders' equity: Preferred stock,$1 par value Common stock, $1 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock, 12,000 common shares Total stockholders' equity 4,600 16,000 401,000 421,600 274,000 (216,000)$ 479,600 Based on the stockholders' equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands. 3. If the common shares were issued at \$16 per share, at what average price per share were the preferred shares issued? Preferred shares issued price per share

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homework question 9