homework question 9
![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](https://content.bartleby.com/qna-images/question/8aeb4c9c-8d33-4b47-954d-a4d3ce02aa40/e0208714-3938-439c-8c0c-039554d1d5ff/jqqxdif.png)
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